-
U.S. dollar rallies, eroding Wall Street gains
The U.S. dollar rose more than 1 percent on Tuesday, resuming a recent upward trend and weighing on Wall Street stocks as investors fretted the currency's strength would hurt multinational corporate profits. U.S. equities had traded higher for much of the session but turned negative in the final hour of trading. European shares ended sharply higher, as did crude oil. Recent market activity has favored risk assets, a move tied to Friday's weaker-than-expected U.S. payrolls report. While the data, along with other recent indicators, pointed to slowing U.S. growth, market participants viewed them positively, as they ... (full story)