Equity prices are falling because of the U.S dollar's strength against other currencies.
American travelers are getting their bang for their buck but multinationals that derive part of their revenue in foreign countries are bringing in fewer dollars due to exchange rates.
The dollar is strengthening for several reasons, according to Moody's Investors Service managing director Atsi Sheth.
The dollar benefits are as safe haven status if you have uncertainty and geopolitical risks and macroeconomic uncertainties around the world, said Sheth.
She said that the Fed has been more aggressive in hiking rates than its peer banks, whether it's the ECB European Central Bank or the Bank of Japan.
Sheth also mentioned the British pound, which plunged to known lows against the dollar this week.
Sheth said that there were idiosyncratic reasons for that particular currency to be very volatile in the last couple of days.
As long as that interest rate differential remains, the dollar strength is here for a long time, she said.
The Dollar Index opened higher on Tuesday, and stocks opened higher as the Dollar Index DX-Y. NYB took a break from its recent rally. Equities turned negative as treasury yields rose, and DXY rose above 114 once again.