Helsinki stocks recorded their largest one-day decline of 2026 on Monday, with Nokia losing more than 10 per cent as a global technology sell-off spread to Finland.
The Helsinki Stock Exchange’s general index closed 2.99 per cent lower. The fall exceeded the previous largest daily decline this year, recorded in March when the index dropped 2.7 per cent following the US and Israeli attack on Iran.
Nokia led trading volumes and suffered its largest one-day decline of the year. The network equipment maker’s shares fell more than 10 per cent.
Finnish industrial companies also lost ground. Wärtsilä closed 6.9 per cent lower and Metso fell 5.2 per cent.
Technology shares came under pressure worldwide after executives at US artificial intelligence companies called for a slower pace of AI development over safety concerns.
Anthropic chief Dario Amodei wrote on Saturday that companies should slow advances in AI model capabilities and increase monitoring. Other AI executives have also backed tighter safety measures.
Wall Street also opened lower on Monday, led by technology shares. Rising oil prices and expectations of a US Federal Reserve interest-rate increase this week added to pressure on markets.
Summa Defence faces bankruptcy risk
Summa Defence recorded a separate fall after the Finnish defence and security technology company announced that its working capital had run out and its liquidity had deteriorated.
Its shares fell about 47 per cent to €0.20 during Monday trading, according to Ilta-Sanomat.
Summa Defence said it had no confirmed additional financing sufficient to secure operations under its previous plans. The company said it was unable to meet payment obligations as they fell due without immediate financing or other liquidity arrangements.
The company is considering options involving subsidiaries IntLog, Lightspace Group and Aquamec, alongside possible asset sales and additional financing. It is also assessing whether it meets the conditions for corporate restructuring.
Summa Defence warned that its parent company faces bankruptcy if it fails to secure enough financing or another solution. The company listed on the Helsinki Stock Exchange in June 2025. Its shares have lost about 90 per cent since the start of this year, Verkkouutiset reported.
Despite Monday’s decline, the Helsinki market’s general index remains about 9.6 per cent higher since the beginning of 2026, according to Helsingin Sanomat.
HT