Ballistic impact onto fiber-based armor systems induce high strain rate (HSR) multiaxial loading including axial tension, axial compression, transverse compression and transverse shear. Fiber failure during impact is expected to occur under multiaxial loading. The transverse compressive deformation induced in the fibers during impact is significant enough to cause permanent deformation (shear cutting and compressive fibrillation) at the sub-micron length scales. However, the influence of high strain rate transverse damage from compression and/or shear on the tensile strength of fibers is not well understood. In this study, ultrahigh molecular weight polyethyelene (UHMWPE) Dyneema SK76 single fibers are compressed at HSR loading conditions in a unique small (283 µm) diameter Kolsky bar. Subsequently, the compressed fibers are subjected to axial tension at quasi-static and HSR loading to understand the influence of transverse compression. Atomic force microscopy (AFM) and differential scanning calorimetry (DSC) is performed on the fibers to elucidate the failure modes and associated mechanisms.