The stock market looks blood red in Europe on Monday morning. The leading German DAX index fell by almost ten percent after the opening of the Frankfurt stock exchange at 09.00. This is reported by the BBC and the news agencies dpa and AFP.
The DAX index consists of the 40 most traded shares on the Frankfurt stock exchange, which is the financial center of Europe's largest economy, Germany. The French CAC 40 index had fallen by just over six percent a quarter of an hour after the opening of stock trading in Paris, and a similar decline was seen in the FTSE 100 index in London.
The FTSE 100 index consists of the 100 companies on the London stock exchange with the largest market capitalization. In Stockholm, the OMX Stockholm PI index fell by seven percent immediately after the opening at 9 a.m. A similar drop was seen on the Copenhagen stock exchange, where the C25 index had fallen by 7.3 percent after the first five minutes of trading.
Share prices have also fallen on the Norwegian stock market in Oslo. Here, the leading index fell by five percent immediately after the opening of the stock exchange at 9 a.m. Among the companies that have taken a big hit are several European arms manufacturers, which until recently experienced large price increases.
The German arms manufacturer Rheinmetall fell by 23.7 percent shortly after the opening of the stock exchange in Frankfurt, while the Swedish Saab fell by around 10 percent on the Stockholm stock exchange, writes the news agency NTB.
Monday's price drop in Europe follows a night of large falls on the stock markets in Asia. Here, the leading stock indices in Japan, China and South Korea fell by between 4.8 and 8 percent.
It was expected in advance that the stock markets would be marked by large falls on Monday, as a result of China announcing on Friday a significant response to the United States and President Donald Trump's increased tariffs on goods from a large number of countries.
China will in future impose a 34 percent tariff on goods from the United States.
jel /ritzau/
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
