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The loss came after some very strong weeks in the stock market in late April.
– Last week, signs emerged that things were going up a bit without improving the underlying economy. At the time, many people chose to sell, which was triggered by Trump’s actions, says Martin Guri, a stock strategist at analyst firm Kepler Cheuvreux.
On Friday, the President of the United States said at a press conference that the coronavirus came from a laboratory in China, a work that was later repeated by both him and Foreign Minister Mike Pompeo. He raised fears that a new trade war is underway between the United States and China.
Sad news
On Monday morning, more bad news came as Sweden’s purchasing manager index for manufacturing continued to drop, to 36.7. Two months ago, the figure was 52.7.
– This will be a few more months, but it is worth remembering that China was at the lowest level two months ago. They are now back in their 50s, says Martin Guri.
TT: What is the advice for the little saver in this turbulent stock market situation?
– Always maintain a long-term focus. Today, it makes sense to buy if it’s long term. When it was worse in April, they probably made the best purchases in a long time, says Martin Guri.
Most stocks in the OMXS30 Large Business Index fell sharply. Worst of all, the major banks were with SEB as the biggest loser: turnout fell 8.2 percent. Handelsbanken, Nordea and Swedbank lost 6 to 7 percent.
Not so bad in London
At the bottom of the OMXS30 were also auto safety giant Autoliv and home appliance maker Electrolux, which fell 6.8 and 6.7 percent, respectively. Hennes & Mauritz, the heavy clothing giant, fell 6.1 percent.
Tobacco company Swedish Match went against the grain and rose 2.8 percent. The lock giant Assa Abloy also closed with the plus: 1.0 percent more. Several analysis houses have increased their stock recommendations in recent times.
The main European stock markets followed the same path as the Stockholm Stock Exchange, but the fall in London was marginal. The FTSE100 index lost 0.2 percent. In Frankfurt, the DAX index fell 3.6 percent and in Paris, the CAC40 index fell 4.2 percent.
