US STOCKS-U.S. stocks off sharply as dollar rallies
* Strong data pushes dollar to one-month high
* Apple weighs the most on S&P and Nasdaq
* All 30 Dow components in the red
* Indexes down: Dow 0.96 pct, S&P 0.92 pct, Nasdaq 1.07 pct
* Indexes gains for month fall below 2 pct (Updates to early afternoon)
By Tanya Agrawal
May 26 (Reuters) - U.S. stocks were recording their steepest fall in three weeks in midday trading on Tuesday, as a host of positive economic data increased the likelihood of a rate hike in the near term and sent the dollar soaring.
The dollar was hovering at a one-month peak against a basket of major currencies and at one point gained as much as 1.38 percent, pushing for its largest daily move in almost two years.
"A strong dollar is going to hurt exports and the revenue line of companies, which wasn't strong to begin with," said Rick Fier, director of trading at Conifer Securities in New York. Continuación...