Oil Tradingclx and Ice u.s

oil: What behind the sharp drop in equities Was it the lackluster earnings by Alcoa Inc, according to Market Watch. AA, -2.87% to unofficially kick off the start of earnings season for the third quarter Or was it a retreat in oil tradingCLX6, -0.80% amid lingering concerns about crude producers' ability to solidify a plan to limit oil production While those factors may have contributed to the recent slide, the chart below suggests that the most compelling factor weighing on equities, and for that matter oil, was the steep runup in the dollar. U.S. stocks tumbled Tuesday and are threatening to book their worst loss in October. Check out: The stock market nosedive can be explained in one chart The ICE U.S. Dollar Index DXY, -0.07% —a gauge of the buck against a basket of six currencies—was up 0.8% in recent trade to 97.6860 on Tuesday. The dollar indicator is up 2.3% so far this month, putting it on track for its best monthly gain since May. That is the highest level for the gauge in more than 7 months, according to Fact Set data. (news.financializer.com). As reported in the news.