What's Hot

    Luxury Fashion Stocks: Have they reached their peak?

    May 26, 2023

    Cryptocurrency Market Update May 2023

    May 25, 2023

    WYNN: Wynn Resorts Limited, Company Stock Evaluation 2023

    May 24, 2023
    Facebook Twitter Instagram
    Twitter LinkedIn
    What the FinanceWhat the Finance
    Subscribe
    • NewsWire
    • Stock Market
    • Crypto
    • Investment Ideas
    • Global Economics
    • Charts
      • World Market Indices
      • Forex Market Live Prices
      • S&P 500
      • Cryptocurrency Prices
      • Fear & Greed Index
    What the FinanceWhat the Finance
    Home»Stockmarket Watch»Icelandic Stock Market Collapse
    Stockmarket Watch

    Icelandic Stock Market Collapse

    The What GirlBy The What GirlOctober 14, 20082 Comments2 Mins Read
    Iceland
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Iceland’s stock market index (OMX Iceland 15 Index) has hit rock bottom, losing 77.22% of its value in a single day. Iceland’s benchmark index last value was standing at 3004.62, when regulators decided to halt trading to prevent a free fall. The stock market suspension lasted for 3 days, since 9th of October and it was resumed today. On its first trading day the index sunk at 684.74 points.

    iceland

    Up until last week, all European countries were acting like ostriches, closing their eyes and ears to the real economic problems. Most observers and market participants thought that the European leaders hadn’t actually realized that they had a problem in the first place.

    Iceland’s banking industry collapsed last week and the government was forced to nationalize three banks Kaupthing Bank, Glitnir and Landsbanki Islands in the space of three days. The three banks together represented 76% of the ICEX 15 Index’s value, fact that partially explains why the index is practically valueless.

    Telegraph reported that Icelandic Prime Minister, Geir Haarde, is blaming the UK government and has threatened to sue them for using anti-terrorist laws with the excuse to protect British deposits in the failed Icelandic banks. These moves, said Mr Haarde, have worsened the situation for the already troubled market and led to the unnecessary collapse of Iceland’s largest bank, Kaupthing.

    Author Profile

    dadff7b1a7f33524d7aa069a4c17433d?s=100&d=mm&r=g
    The What Girl
    I am a financial services writer with experience in forex trading and stock market analysis.
    Latest entries
    • financial pages help pick stocksInvestment Ideas2013.08.14Stockmarket Shares: Tips for Beginners
    • pressure sellingNewsWire2013.08.07New consumer protection laws target pressure sellers
    • housing priceBest Deals2013.07.25Price rises spell trouble for UK’s crowded housing market
    • welbyNewsWire2013.07.01Money lenders welcomed into temple as Church of England plans credit union
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleUS Invests $250 Taxpayers’ Money in Banks
    Next Article Libor Shows Signs of Recovery

    Related Posts

    WYNN: Wynn Resorts Limited, Company Stock Evaluation 2023

    May 24, 2023

    Stock Market Update – Is the Rout Over?

    May 16, 2023Updated:May 18, 2023

    What Are the Perfect Hours to Trade?

    May 15, 2023Updated:May 15, 2023
    View 2 Comments

    2 Comments

    1. BiancaNeve on October 17, 2008 4:53 pm

      A joke I have recently read:

      What is the capital of Iceland?
      £3.50

    2. dollar into on December 13, 2011 10:50 pm

      Thanks , I have recently been looking for information about this topic for a while and yours is the greatest I’ve found out till now. However, what in regards to the bottom line? Are you sure about the supply?|What i do not realize is in fact how you are not actually a lot more smartly-favored than you may be right now. You are very intelligent.

    Leave A Reply

    Luxury Fashion Stocks: Have they reached their peak?

    May 26, 2023

    Cryptocurrency Market Update May 2023

    May 25, 2023

    WYNN: Wynn Resorts Limited, Company Stock Evaluation 2023

    May 24, 2023

    Why Does the Saudi Arabian Riyal Keep Rising Against the Yen?

    May 22, 2023
    Categories
    • Best Deals
    • Crypto
    • Forex
    • Global Economics
    • Investment Ideas
    • NewsWire
    • Stockmarket Watch
    Recent Comments
    • Peter Williamson on G7 Summit Japan 2023: Global Economy in Challenging Path
    • what the finance on Bitcoin Just Broke $30,000. Is the Bull Run Incoming?
    • Peter williamson on Bitcoin Just Broke $30,000. Is the Bull Run Incoming?
    • Peter Williamson on How ChatGPT is Impacting the Economy
    • what the finance on GM, Chrysler Struggling to Survive
    Also Check Out

    What Next for Tesla and Elon Musk?

    May 5, 2023

    Space Stocks: The Growing Popularity of Investing in the Final Frontier

    May 17, 2023

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Your source for financial news. This is not financial advice. Our opinions are independent of any financial organizations.

    We're social. Connect with us:

    Twitter LinkedIn
    Top Insights

    Space Stocks: The Growing Popularity of Investing in the Final Frontier

    May 17, 2023

    How ChatGPT is Impacting the Economy

    April 5, 2023

    How To Find The Best Deals For Loans

    March 1, 2023
    Get Informed

    Subscribe to Updates

    Get the latest market news from What The Finance.

    Type above and press Enter to search. Press Esc to cancel.