It’s happening again! Another day where spreads rise, market falls, commodities lose steam and dollar creeps up. This is not the Fed, not trade wars, not political.

Small cap stocks enter bear market, with Russell 2000 benchmark down 20% from highs

  • After Monday’s decline, the Russell 2000 benchmark is now down 20 percent from its all-time high hit in late August.
  • Small caps had outperformed their large peers earlier in the year on bets that domestic-focused companies would be immune to the trade tensions.
  • “Small caps are riskier than large caps, and there are some concerns about the end of a cycle in the U.S. and that we are entering a recession,” said Tobias Levkovich, chief U.S. equity strategist at Citi.
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Americans Turn More Pessimistic on Economy

(Bloomberg) — The number of Americans expecting the U.S. economy to get worse in the next year is at its highest point since 2013, a national NBC/Wall Street Journal poll shows.

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