Coronavirus Hits the Scandinavian Stock Market Hard

Jacob_Pedersen Sydbank

writer icon - -     Sydbank   |   Business     🕐 17. Mar. 2020

The Scandinavian stock market is plunging in all three countries due to the effects of the coronavirus.

Swedish Stock Market
In Sweden, the downfall in the stock market is reportedly the biggest case in modern times.
This means that the rise of the market during the past five years has been erased.

Over SEK 2 billion in market value has vanished from the Swedish stock market.

The 11.1 percent fall is larger than the so-called "Black Monday" in 1987.

Norwegian Stock Market
Last week was referred to as a horror show on the Oslo Stock Exchange.

It started with a decline of 8.1 percent last Monday, March 9. Then the arrows continued to point downwards, before a 3.4 percent improvement ended the IPO on Friday.

Yesterday, on Monday morning, however, the turnout was erased, as the numbers continued to plummet.

The main index on the Oslo Stock Exchange is closely linked to the oil price, and the main index had fallen over 9 percent at 13.10 yesterday.

With that, the entire upturn from the last four years on the stock exchange has gone out the window.

Danish Stock Market
The Danish stock market has also started the new week with general decline.

After about two hours of trading, the large C25 index fell by about 5 percent. The C25 index consists of the 25 most traded stocks in the Danish stock market.

Recently, Danish equities have been pressured by the outbreak of coronavirus, and it is still the effects of the virus that characterise the trade. This is according to Jacob Pedersen, Stock Analysis Manager at Sydbank.

"Authorities are becoming increasingly restrictive in terms of shutting things down, and that is destroying the entire economic activity and pulling the rug away among many businesses that are experiencing their revenue disappearing," Pedersen says.

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