The Stockholm OMXS stock market index fell more than 6 percent in the first 15 minutes of trading.
Among the heavyweights, Saab plummeted 9 percent, and AB Volvo and Ericsson more than 7 percent.
The global stock exchange turbulence continued in other countries too on Monday after Trump last week announced 10 percent (and more for some countries) baseline tariffs on all imports, prompting China to respond with a retaliatory tariff of 34 percent on all US goods.
In Europe, London's FTSE index stood at -5 percent, Paris -4.3 percent and Frankfurt -5 percent.
Hong Kong's Hang Seng fell 10 percent in early trading. In Shanghai and Shenzen, the composite index fell 6.1 percent and 8.4 percent, while Nikkei 225 and the Topix index in Japan stood at -6.5 percent at lunchtime. South Korea's Kospi index was down 4.6 percent.
Last week, Wall Street and the Stockholm stock exchange alike fell 9 percent.
Savings experts advised Swedes to hold their breath and wait before selling their stocks or funds. The only situation in which you may want to sell urgently is if you need the money in the next two years, but funds should in any case be reserved for long-term savings.
"Things could turn around and if you're then out of the American market, you'll also miss the recovery," Nordnet's economist Frida Bratt told the TT news agency.
European Union trade ministers were set to meet in Luxembourg on Monday to discuss the EU's response, after Trump slammed 20 percent tariffs on the EU.
Comments