by Peter McKay, (WSJ)
The weak dollar may be starting to put some pressure on the stock market.

The two don't usually move in tandem, but the Dow Jones Industrial Average fell 158 points, or 1.3%, last Monday as the dollar hit a 20-month low against the euro. The blue-chip industrials ended the week down 86.04 points, or 0.7%, as the dollar continued to fall.

In a recent report to clients, Chip Hanlon, president of Delta Global Advisors, an investment-research and management firm, called stocks and the dollar "an odd pair." But he urged clients to watch out for a continuing pullback in both.

Mr. Hanlon is among a small number of investment professionals who think recent economic data suggest that a recession in the U.S. sometime next year is a possibility. In the next few months, because of concerns about the economy, he expects the Dow industrials could drop as low as 11000, which would represent a decline of nearly 10% from its current level.

"I'm not a doom-and-gloom person regarding stocks, but it would seem to me that we've come a little too far, too fast at the moment," he says, referring to the stock market's year-to-date gains.

*The excerpt above ran in the "Market Movers" column. WSJ.com subscribers can access the full article by clicking here.