Weak earnings, strong dollar hit large-caps; small-caps gain
Updated : July 19, 2018 11:19 PM IST
The Federal Reserve's bullish view of the US economy and trade tension pushed the greenback to a one-year high and fanned worries about companies that get a substantial part of their revenue from overseas.
While the large- and mid-cap indexes dipped, the small-cap Russell 2000 index rose 0.42 percent.
US multinationals are starting to reevaluate their currency hedging strategies, especially after Netflix said earlier this week that a strong dollar would hurt its margins.
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