The OMXS index closed down 0.7 percent after earlier gains.
Among the heavyweights in the OMXS30 index, heat pump manufacturer Nibe surged by just over 11 percent after positive industry data. Going the other way were powerhouse Industrivärden and engineering giant Sandvik, which fell 2.7 and 2.6 percent respectively.
Somber tones were also heard in Europe, where the stock exchanges in London, Paris and Frankfurt all closed lower.
The price of oil climbed sharply in the wake of news surrounding the Strait of Hormuz. Just before 6 p.m. on Monday, a barrel of North Sea oil was trading at around $114 a barrel.
