Swedish bourse fall wipes out year’s gains

The Stockholm stock exchange continued its recent slide when trading began on Monday morning. The latest fall wiped out the last vestiges of the year's gains.

Following major drops in the US on Friday and in Asia on Monday, the outlook was not good for the bourse in Stockholm and others across Europe.

Within five minutes of the start of trading the OMX index had dropped 2.4 percent to 370.9. That represents a fall of one percent since the beginning of the year.

Electrolux plummeted five percent as the company presented its interim report, while Husqvarna also suffered after its report disappointed on Friday.

Ericsson’s woes continued with a two percent fall.