I’m more worried about the surging dollar than the crumbling price of oil for U.S. multinationals.
The Dow industrials tumbled more than 300 points Monday, kicking off the new year on a sour note as a renewed slide in oil prices sent energy shares sharply lower.The Dow Jones Industrial Average sank 331.34 points, or 1.9%, to 17501.65, the biggest one-day loss for the blue chips since early October.The S&P 500 index shed 37.62 points, or 1.8%, to 2020.58, also its worst showing in three months.