What you need to know about Nokia stock
Nokia shares are down more than 8 per cent at €0.85 per share, while the market is still trying to digest what happened last night.
The stock is down 4 per cent in 2017 so far, but this is the first time the market has seen a drop of more than 6 per cent since March 2017.
Shares of Nokia have lost more than half their value in the past six months, with the biggest fall on the Dublin stock exchange.
What you need for Nokia stock: Nokia shares have fallen in a series of sectors including technology, telecoms and financial services, and have lost 5 per cent of their value since the start of 2017.
A drop of 6 per part is the worst slide in four years.
The market is also grappling with a series, including a possible drop in the price of Nokia shares.
“We think it’s very possible that Nokia shares will fall again in 2018, if we get another big shock, which is not in our favour,” said Paul O’Donnell, head of equity analysis at the research firm Investec.
“The markets are looking for a rebound, but we’re not seeing it yet.”
The latest figures on the stock market were published in Dublin yesterday, the day before Nokia shares fell even further, hitting their lowest levels since February 2017.
The stock has slumped since January 2017, when it was trading at €1.17.
The market has now fallen by nearly half that price, with a 10 per cent drop in four months.
The latest news comes on the same day as the US Federal Reserve raised interest rates for the first year in more than a decade.
Fears of a further sell-off in the market have also been voiced in the US, with some speculating that it could spark a global sell-offs.
Analysts also warn that the US stock market could collapse in the next few weeks.
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