Small Caps Lead U.S. Selloff With Russell at Correction
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Losses in U.S. equities are spreading from speculative stocks to the broader market, with the Standard & Poor’s 500 Index down for seven of the last nine days and smaller companies falling 10 percent since March.
Selling was heaviest yesterday in transportation shares such as airlines, pushed lower in part by the first diagnosed case of Ebola in the U.S. Companies in the Russell 2000 Index slipped 1.5 percent, bringing the retreat since March to 10.2 percent, meeting the common definition of a correction.