Net withdrawals from North American and US funds totalled SEK 13.7 billion, banks and households combined. This is the highest figure since 2010, when data started to be collected.

At the same time, net deposits in Swedish funds totalled SEK 22.7 billion - another record high, according to TT.

• ‘It is clear that Swedish households have reacted strongly to the new US administration’s turbulent policies, which so far have included trade wars and actions that have turned a lot of what we previously took for granted upside down,’ says Stefan Westerberg, private economist at Länsförsäkringar, which has compiled the total equity fund savings in Sweden, both among private savers and banks, during February.