On a sector-by-sector basis, observers believe the technology, materials and energy sectors will likely be the most affected by a stronger dollar as each sector generates over half of revenues abroad.
Cantor Fitzgerald analysts have warned that companies with “material international exposure,” such as Google (NasdaqGM: GOOG), Facebook (NasdaqGM: FB), Amazon (NasdaqGM: AMZN) and eBay (NasdaqGM: EBAY), could report reduced earnings forecasts if the “trend is sustained.”
XLK includes GOOG 6.4%, FB 4.0% and EBAY 1.6%. SPY holds GOOG 1.6%, FB 0.9%, AMZN 0.6% and EBAY 0.3%.
SPDR S&P 500 ETF
For more information on the S&P 500, visit our S&P 500 category.
Max Chen contributed to this article.