After a sour Tuesday morning, the Stockholm Stock Exchange continued to decline. When also the New York Stock Exchange opened down the decline was further accelerated, and at the closing at half past five PM the broad OMXSP index ended down 3.5 per cent.
Not since "Black November" last year has the Swedish stock market fallen this much. However, there is a bit left to the 4.5 per cent plunge that we saw 1 November 2011.
"What really weighed down was that China lowered its target for GDP growth," said Mattias Gredmark, stock market strategist at bank SEB, to business daily Dagens Industri.
Another heavy cause of the decline is renewed concern over developments in Greece.