At the close, the broad OMXS index was down 0.6 percent. Among the losers on the heavyweight list were mining group Boliden, which fell 2 percent, and truck maker Volvo, down 1.9 percent.
One of the few companies to buck the trend was Saab, which rose 2.9 percent.
Oil prices were pushed below $100 on Tuesday, partly on reports that Iran might consider opening the Strait of Hormuz if the US lifts its blockade. Prices have since started to rise again, and at 5:30 p.m. a barrel of North Sea Brent crude cost just under $103, pushing up market interest rates.
The Stockholm Stock Exchange's OMXS30 index closed yesterday at a new record high, just like the Nasdaq Composite Index on Wall Street. However, New York was also in the red after a few hours of trading on Wednesday.
