Oslo Stock Exchange decreased by over 6 percent – ABC News

The decrease reflects sharp falls on the stock exchanges in Asia and especially China Monday.

The turmoil in Oslo comes after a sharp fall on the stock exchanges in Asia and especially in China Monday. Shanghai Stock Exchange ended the day with a drop of 8.5 percent.

Today’s drop is the biggest since August 18, 2011, according DN.no.

Statoil equities were the most traded and fell by 5.8 percent. Telenor and Marine Harvest fell by respectively 5.8 and 3.9 percent, while the Norwegian Hydro shares 9.7 percent. Among the most traded stocks experienced However Seadrill the biggest fall of 12.1 percent.

Only one share rising

Statoil share was the most traded and fell during the morning and early afternoon with 6.6 percent. So did the Telenor share, whilst Norwegian Hydro and DNB fell by respectively 8.8 and 6.3 percent.

Seadrill had on his side endure a drop in share value of less than 10.4 percent.

On the main index was the only Biotec Pharmacon that went up. The company rose by 4 percent.

Steep fall on Wall Streeet

I dustriindeksen Dow Jones plunged over 6 percent five minutes into the trade and shrunk thus around 1,000 points. The decline shrank to around 4 per cent during the next half hour, and among the losers at Dow Jones was IT giant Apple that fell over 4 percent.

Technology Heavy Nasdaq fell correspondingly. The broad-based S & amp; P 500 fell nearly 5 percent when trading opened on the stock exchanges in New York – and the fall affected all sectors.

Snowball Effect

The steep decline recovering somewhat after the panicked opening but the benchmark indices were all down between 3 and 4 percent in the first half hour.

At the same time dropped the price of US light crude by almost $ 1.4 to $ 39 a barrel.

The sharp stock market decline in the United States following the markets of China and Europe, where share values ​​plunged through Monday. Brokers said investors are forced to sell off in order to stave off broad capital losses, a chain reaction that seems to continue.

– We are witnessing a snowball effect. All orders have been a sale today across the board, so it is obvious that people think we have not yet reached the bottom, says analyst Mark Ward at Sanlam Securities told Reuters.

Freefall in Europe

The global stock market slide occurred after the Chinese stocks plunged by nearly 9 percent and boosted investors’ unease over ståa in China’s economy.

In London’s FTSE 100 index on course against its worst trading day since 2011. The index had Monday afternoon shrunk nearly 6 percent.

In afternoon trading on the stock exchanges in Paris and Amsterdam plunged main indices over 7 percent. Share fall in Madrid was at almost 5.5 percent, while the value of shares on the Athens Stock Exchange in crisis framework Greece shrunk as much as 11 percent.

The other bourses in Asia fell sharply concurrently with China.

Listen to what Prime Minister Erna Solberg has to say about the fall on the Oslo Stock Exchange:

Shanghai Stock Exchange plunged

The European exchanges opened the Shanghai Stock Exchange closed the doors and had to conclude that the main index fell by 8.5 percent. Also Shenzhen index (- 7.7), which shows the development of China’s second largest stock exchange, fell sharply.

The turmoil created downturn in Tokyo (- 4.6), Hong Kong (- 5.2) and Taipei (- 7.5).

– There is panic in the markets. This begins to look like the Asian financial crisis of the late 1990s, said lead researcher Takako Masai by Shinsei bank in Tokyo.

– Once again sold it away shares in Asia, and it spread fear in markets rest of the world early in the week, said market analyst Craig Erlam.

Will Brake fall

The Chinese government has initiated a number of measures to prevent further decline after the sharp falls since the stock exchange peak in mid-June. But so far the measures have had limited effect.

– Now follow all the sort of measures the Chinese government and the central bank will come with, write analysts at Investec Economics in a note.

Bloomberg commodity index, which follows the price of 22 commodities, fell 1.7 percent to the lowest quotation since August 1999.