What triggered the concern was last week's signal of a weaker American labor market than expected.
And in the coming weeks, several messages will determine how stock exchanges, interest rates, and currencies develop during the autumn. Maria Landeborn, senior strategist at Danske Bank, has listed the four most important ones.
1. The Swedish Central Bank's interest rate decision
The first is the Swedish interest rate decision, on August 20.
It's important from a Swedish wallet perspective, but looking at the economy and the stock market, the American central bank's decision is more significant.
Maria Landeborn believes it will be a single rate cut of 25 points. So far, the Swedish Central Bank has signaled that there will be 2-3 more interest rate cuts this year, but according to Landeborn, the likelihood has increased that there will be at least three.
2. Nvidia's quarterly report
The next date to keep an eye on is August 28, when the semiconductor giant Nvidia will release its quarterly report.
They have been called the world's most important company, and now the question is, will this investment willingness in AI continue?
According to Maria Landeborn, many reports have received a lukewarm reception during the reporting season, and there is a risk that Nvidia will not meet expectations enough. And that would affect many small investors. Not just those who own the stock.
We in Sweden save a lot in global funds, where Nvidia weighs heavily. So many Swedes own a little Nvidia through their funds, even if they haven't bought the stock themselves.
3. American employment figures
The absolutely most important message comes on September 6, showing how unemployment looks in the USA. It will also give an indication of what the American central bank will do.
And if unemployment continues to rise in the USA, the risk increases that the country will enter a recession, according to Landeborn.
It will then spill over to Europe and Sweden. And the stock market will also fall.
But she adds that unemployment is expected to remain at the same level as now, just over 4 percent.
4. The American central bank Fed's interest rate decision
The next most important message comes on September 18: the American central bank's interest rate decision.
It will affect what happens on both the stock and bond markets.
According to Maria Landeborn, the Fed is expected to cut interest rates by 25 points, and the decision will also affect how the Swedish Central Bank acts going forward.
Swedish inflation 14/8
American inflation 14/8 and 29/8
Swedish interest rate decision 20/8
Purchasing Managers' Index, USA, Europe, and Japan 22/8
Nvidia's quarterly report 28/8
American employment figures 6/9
European Central Bank's interest rate decision 12/9
American interest rate decision 18/9
