Monday marked the last day of the seven-session Santa Claus Rally, which has been the worst since 1999. But the U.S. dollar continued to strengthen as the euro dipped to a nine-year low. This has raised fears that multinationals will have a harder time selling their products abroad.
Scott Wren with Wells Fargo Advisors told CNBC's "Street Signs" on Monday that large cap investors shouldn't be too spooked. He said there will be probably be some negative effects on earnings of large multinationals with international exposure, but that "it shouldn't be as bad as some people fear."
"As a matter of fact, I would argue that from now through the end of this cycle these larger cap stocks are going to outperform small caps," said Wren. "I think they're going to outperform them by a pretty wide margin."