The Danish C25 stock index fell by 7.3 percent on Monday morning after the first five minutes of trading on the Copenhagen Stock Exchange. This continues the Danish stock market decline after the C25 index fell by 6.2 percent on Friday, which was the second largest drop ever.
Since then, prices have recovered slightly and are at 9:30 a.m. down 5.5 percent. But it is still a significant drop that has shaved many billions off the companies' total stock market value. Stock prices are plunging in the wake of US President Trump's announcement of increased tariffs on imported goods.
A move that is feared to trigger a global trade war that will damage the world economy. All 25 shares in the Danish elite index fell on Monday morning. Ambu and Coloplast are doing best with falls of around 3 percent. - while Zealand Pharma, Mærsk and DSV fall by more than 9 percent.
Novo Nordisk, which by virtue of its high market value constitutes a large part of the stock index, falls by 4.8 percent. 20 of the 25 shares had to go through a so-called extended opening auction. This is a mechanism that is triggered when there is great selling pressure on a share. This means that trading in shares is temporarily suspended for a few minutes.
The fall on the Danish stock market is happening synchronously with the fact that the Asian markets have also fallen sharply overnight on Monday.
The picture is also the same in the rest of Europe. The German DAX index is down 6.8 percent. - the French CAC 40 index is down 5.6 percent. - and the British FTSE 100 is down 5.3 percent.
jel /ritzau/
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