The Russell 2000 fell 1.6% Monday, dragging down its year-to-date performance to negative 0.2%. While not a canary in a coal mine, it’s a cautionary tale.
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe1.03% on the news that euro zone manufacturing continued to decline sharply in September, according to HCOB and S&P Global'sin the third quarter. That's a drop of around 6.
More significantly, investors think the Russell 2000 more accurately reflects the state of the U.S. economy. Smaller firms are more exposed to macroeconomic conditions. They don't have the humongous cash reserves of Apple to help them sit out tumultuous times, for instance, or have pricing power to increase margins even as inflation bites.
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