Stock indices continue to fall in Sweden

On March 16, the Stockholm Stock Exchange collapsed rapidly against the background of the continued fall in the price of oil and the overall decline in global indices. At 12 hours Moscow time, investor losses amounted to 8.5%, but closer to the evening the total index of the Stockholm exchange OMXSPI adjusted and reduced the fall to 5.5%. This was reported on March 16 by the Swedish newspaper Fria Tider. Similar developments are seen on other European trading platforms. Thus, at 18:00 Moscow time, the German DAX and the British FTSE 100 were down almost 6%. The MoS Exchange index fell by almost half by 2.6%. Against the background of the shrinking Swedish economy, the Government has announced the possible provision of about 30 billion financial support to Swedish companies most affected by the COVID-19 coronavirus epidemic. One such firm is certainly the largest Nordic air carrier SAS with a significant share of Swedish capital. According to the management board of the company, more than 90% of employees will be temporarily dismissed, the rest will be transferred to a reduced work schedule. The layoffs come amid cancellations of thousands of flights between northern countries, as well as flights with the rest of continental Europe.