Last week, a banking crisis was triggered in the United States as three banks fell in the space of a few days. And on Wednesday, things got shaky again after the venerable Swiss bank Credit Suisse got into a storm. The bank's major shareholder, Saudi National Bank, said it had no intention of injecting more money should Credit Suisse ask. As a result, the stock plummeted by over 20 percent.
Several major French banks, such as Societe Generale and BNP Paribas, also fell. The Swedish banking sector also followed suit in the case. Nordea lost as much as 7.7 percent. SEB and Swedbank fell 5.4 percent and 5.1 percent, respectively, while Handelsbanken closed 4.2 percent negative.
Worst day in a year
Another big loser was clothing giant H&M, which accounted for the biggest drop on the OMXS30 list with an 8.5 percent drop. This is after this morning's sales figures for, among other things, the important Christmas period that did not meet market expectations.
On the Stockholm Stock Exchange, OMXSPI fell by 3.8 percent and OMXS30 by as much as 4.1 percent. It is the worst day on the stock market in over a year, according to Dagens Industri.