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Dollar dings stock market confidence

What's the oil market watching?

Even when it's going down, the strong dollar scares markets.

The dollar index—down about 2.5 percent in the past week—was flat Tuesday, as traders continue to adjust to the Fed's message on interest rate policy. At the same time, stocks sold off and Treasurys gained, sending yields lower.

Before the Fed sent the dollar reeling last week, stocks were spooked by the currency's quick move higher and its potential to sap profits from foreign operations.