Stock markets continue to slide in Finland and elsewhere
|
|
Finnish stock market prices followed the downward trend on international markets on Monday. In Helsinki, nearly all shares plummeted during the day's trading. At the end of the day, only eleven companies had made gains.
In Helsinki, the HEX index showed a decline of 1.45%, compared with 3.8% in Tokyo, 2.4% in Frankfurt, 2.4% in Paris, and 1.1% in London.
Finnish economists and investment experts have not found a single cause for the decline. However, most do not consider Monday's news to be a major shock. Instead, it was seen more as a decline in faith in the market.
The so-called double deficit in the United States, where both the balance of trade and public finances are in the red, has been seen as a major threat to the world economy. Another important factor is the heavy debt burden of American households.
Here in Finland, unemployment remains a big problem, even though more jobs are being created. Experts say that the new jobs are mainly being filled by school-leavers, without much of an effect on the long-term unemployed.
Helsingin Sanomat
