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The stock market fell ahead of the interest rate decision from the USA

The Stockholm Stock Exchange fell ahead of Wednesday evening's interest rate decision from the US central bank. The OMXS index dropped 0.7 percent.

Published: 18 September 2024
The stock market fell ahead of the interest rate decision from the USA
Photo: Erik Simander/TT

Among the most traded stocks in the OMXS30 index, for example, Nibe Industrier and the medical technology company Getinge fell 1.7 and 1.2 percent, respectively.

Against the trend, however, were the real estate company SBB and the appliance manufacturer Electrolux. The companies rose 1.7 and 1.2 percent, respectively.

Among today's losers was also the real estate company Pandox, whose share fell 4.8 percent after a targeted new share issue aimed at raising two billion kronor.

The fiber company Hexatronic fell 10 percent after the announcement that CEO Henrik Larsson Lyon is leaving.

The leading European stock exchanges fell during the day. It was also weakly down on the leading indexes on the New York Stock Exchange at 17:30.

In the interest rate decision from the US central bank Federal Reserve (Fed) at 20:00 Swedish time, Fed Chairman Jerome Powell is expected to deliver the first interest rate cut in over four years. But the question is whether it will be 0.25 percentage points or a so-called double cut of 0.50 percentage points.

Prior to the expected cut, the Fed's key interest rate is at 5.25-5.50 percent, the highest level in over 20 years.

After Wednesday's decline, the Stockholm Stock Exchange has risen 9.1 percent since the turn of the year.

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By TTThis article has been altered and translated by Sweden Herald

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