On the OMXS30 index of the most traded stocks, defence group Saab and pharmaceutical manufacturer AstraZeneca fell by 3.1 and 1.8 percent, respectively.
At the other end were telecom operators Telia and Ericsson, which rose 2.3 percent.
The leading stock exchanges in Europe - in Frankfurt, London and Paris - also fell back during the day. Wall Street was also down after a few hours of trading.
Risk appetite is dampened by fighting around the Persian Gulf, which is also pushing up oil prices, the dollar and market interest rates. The price of North Sea oil has risen to $79.40 per barrel.
The OMXS index has risen 4.9 percent since the beginning of the year.
