Stock exchange down five percent

Stock exchange down five percent
The Stockholm stock exchange took a tumble in early trading on Friday, with the OMXS index dropping 5 percent by 9.15am. Shares in Volvo shed 19 percent of their value.

Truckmaker Scania, which also reported profits below analysts expectation, say its share value drop by 9 percent.

Stock in the Carnegie investment bank plummeted by nearly 35 percent after reporting a loss of 517 million kronor ($65 million) for the third quarter.