The stock market fall in Stockholm was in line with the development on leading European stock exchanges and came after sharp index declines during the night's trading in Asia.
With Monday's decline, the OMXS-index has fallen 1.0 percent since the turn of the year.
Heavy industry shares fell hard with declines for ABB and Sandvik of 3.9 and 3.8 percent, respectively. But the decline was broad: 27 of the 30 companies in the OMXS30-index – the stock exchange's most traded shares – fell.
Fortnox soared after bid
Car manufacturer Volvo Cars initially rose over 2 percent after the weekend's news that CEO Jim Rowan would be fired and replaced by former Volvo Cars CEO Håkan Samuelsson. But the increase subsided and the share closed at a plus of 1.1 percent.
Business system company Fortnox soared upwards by nearly 34 percent after a bid from a consortium, including an EQT fund, worth nearly 55 billion kronor.
The spot price of gold simultaneously reached new historic record levels, as investors sought safe investments in the turmoil.
New type of punitive tariffs
The concern has gained new momentum ahead of Wednesday's expected announcement of a new type of punitive tariffs that US President Donald Trump has flagged – on top of the tariffs on steel, aluminum, and Chinese goods already introduced by the Trump administration.
Trump has flagged tariffs as retaliation for all that the US government sees as trade barriers – including VAT rates on American goods in other countries. In principle, all countries will be affected by the tariffs that Trump is now preparing, which he calls "Liberation Day".
