Stock exchange recovery runs out of steam

A Thursday morning recovery on the Stockholm stock exchange was swiftly wiped out after lunch. Just after 2 p.m. the OMXS index had fallen by 1.3 percent to 372.7 points.

The OMX Nordic 40 index had dropped by 2 percent to 189 points. The leading European stock exchanges also plummeted.

After Wednesday’s drop of 1.9 percent, trading on the OMXS index started strongly on Thursday.

“It is common for a steep drop to be followed by a resurgence. But it is impossible to know whether we have seen the bottom,” said Rodney Alfvén, market analyst for Cheuvreuz Nordic.

“Statistics from the USA are difficult to interpret, which contributes to uncertainty on the market. And stock exchange experts cannot agree on how things are going to develop,” Alfvén added.