The U.S. dollar hit a six-year high against the yen and sterling recovered some ground after recent nerves over Scottish independence.
The theory is that Alibaba is such a gigantic offering that it is reducing interest in other IPOs anywhere on or near the horizon.
Jeremy Stretch, head of FX strategy at CIBC, says geopolitical tensions will be positive for the greenback.
Energy stocks are down as Brent Crude oil falls to a 17-month low amid lower demand and plentiful supply.
Alibaba's IPO is getting strong demand, raising questions whether the e-commerce giant will increase the price and size of its offering.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including David Cameron's appeal to the Scots not to break apart the union, and Sergio Marchionne will take over as chairman of Ferrari.
The dollar also trounced the Australian dollar and several emerging currencies on Wednesday, the latest sign of a long-awaited return of volatility.
Beat Siegenthaler, chief strategist at UBS, says a stronger dollar will not weigh on U.S. assets.
Investors bet that the U.S. economy is growing at a pace that is likely to lead the Federal Reserve to begin raising interest rates next year.
CNBC's Simon Hobbs reports bank and energy stocks weigh on European markets ahead of next week's Scottish independence vote.
Everyone is waiting to see what Apple will unveil on Tuesday, but all the heat and light will focus on two major initiatives.
Sterling plunged on fears over the outcome of Scotland's upcoming independence referendum and the Australian and Brazilian currencies also dropped.
Scottish independence: The new worry for equities. It has driven the pound down against the dollar.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a retreat for European stocks and the U.K. pound takes a hit on Scotland independence vote jitters.
With Alibaba finally setting a date for its IPO, there are a host of big questions to be answered.
Luis Costa, head of CEEMEA FX and rates strategy at Citi, says don't bet against the dollar as it is likely to see further gains against emerging market currencies.
The euro rose to session highs against the dollar after U.S. hiring in August fell far short of forecasts.
CNBC's Carl Quintanilla reports Italy, Spain and Germany are among this week's biggest gainers in Europe.
Aside from the lack of job opportunities, Venice is beset by high taxes, slow growth and lost opportunity.
CNBC's Seema Mody reports on all the market moving events from Europe, as investors focus on the U.S. dollar - euro trade, and peace talks between Ukraine and Russia.