While you were sleeping: Dollar strength hits stocks, oil

Tue, 10 Mar 2015

By Margreet Dietz March 11 (BusinessDesk) - Wall Street dropped as the US dollar continued to strengthen amid bets the US Federal Reserve will raise interest rates soon. The greenback reached US$1.0697 per euro, the strongest level since April 2003, with the currency’s strength weighing on the outlook for corporate profits. "There's some concern about what impact this will have on corporate earnings going forward, especially for the big multi-national companies," Nicholas Colas, chief market strategist at the ConvergEx Group in New Yor...

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