The broad OMXS-index fell by 0.8 percent at the close on Tuesday.
Among the most traded shares in the OMXS30-index, heat pump manufacturer Nibe Industrier dropped 4.9 percent.
Other heavy losers were forestry company SCA and bearing manufacturer SKF, down 3.1 and 3 percent, respectively.
Property company SBB fell 2.9 percent ahead of Wednesday's quarterly report.
Of the 30 shares in the large-cap list OMXS30, only four rose, with defense group Saab rising the most, by 1.9 percent.
The decline was broad after Trump said he would impose 25 percent tariffs on goods from Mexico and Canada and an additional 10 percent penalty on goods from China.
The dollar – which has risen strongly this autumn – climbed to around 11.08 kronor during overnight trading. However, it fell back and stood at 11.01 kronor per dollar when the Stockholm Stock Exchange closed.
Dustin's share price collapsed, down 22 percent. The price drop followed the second profit warning in a short time from the online-based IT retailer.
Dustin reports that it sees how sales during the first half of the current fiscal year can drop by 20 percent year-on-year – and that the adjusted profit can be completely wiped out.
At the close in Stockholm, prices were clearly down in Frankfurt, London, and Paris as well.
