Stockholm exchange continues to slide

The Stockholm stock exchange was off to a rocky start on Wednesday morning on worrying financial news from around the globe.

After dropping 1.9 percent in the first twenty minutes of trading, the exchange recovered slightly, but remains down more than 1 percent for the day.

Other European exchanges began the day shakily in the wake of Tuesday’s disappointing results from Wall Street. The Dow Jones index dropped 2.17 percent, while Nasdaq closed down 2.45 percent.

Large losses at major American banks and lower than expected retail sales results for December have increased concerns that the U.S. economy is headed for a recession, which would have negative consequences for the global economy.

At 11 o’clock the OMXS-index was down nearly 0.4 percent.