The fall in stock prices in recent days was triggered by a rise in interest rates in the US that could lead to interest rates rises in Norway as well.
On Tuesday afternoon, the main index on the Oslo Stock Exchange fell 2.9 percent.
In Germany, the decline was 2 per cent, while the Tokyo Stock Exchange had fallen 4.7 per cent when the stock exchange closed there.
Stock prices in Europe and Asia fell in the wake of strong stock fall in the US. The triggering cause was fear of higher US interest rates.
When interest rates rise in the US, it can affect the situation also in other parts of the world – including in Norway.
“What’s happening in the United States actually indicates that we can get a rate hike earlier than Norges Bank has estimated,” says economics Professor Ola Grytten to NTB.
One important reason why the outlook has changed is that interest rates on ten-year US government bonds have risen. It is often referred to as “the world’s most important interest rate”.
© NTB Scanpix / Norway Today