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US-based multinationals set to face much more pain from strong greenback

Currency's surging value is hurting results at firms with big sales abroad; there is even talk of an earnings recession

Nearly one-fifth of S&P 500 companies have warned on earnings for the first quarter, with at least 49 companies mentioning the effects of the US dollar on results, according to Thomson Reuters.

New York

THE surging value of the US dollar may be posing the biggest threat to US corporate earnings since the 2008 financial crisis, hurting results at most US-based multinationals. Some on Wall Street are even talking about an earnings recession.

The US dollar's gain of 22 per...

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