Russell 2000 Index Declines 80 Basis Points on June 7, 2024, Despite Financials Outperforming Utilities, Futures Down 1.6%

The Russell 2000 index, representing small-cap stocks, experienced a decline of 80 basis points on June 7, 2024, leading to underperformance compared to other indices. Financials outperformed utilities, with small caps like Russell 2000, Russell 2000 Growth, and Russell 2000 Value falling by 1.1% on the same day. Despite this, the Russell 2000 index was flat year-to-date. Russell 2000 futures were down 1.6% year-to-date on June 10, 2024. The index continued to struggle, dropping by 1.21% on June 11, while the NASDAQ and S&P remained relatively stable. In contrast, the large-cap Russell 1,000 saw a slight increase since May 15, but individual stocks within the index suffered losses, particularly in industrials, materials, and consumer staples sectors. On June 11, the Russell 2000 showed a modest year-to-date increase of 0.58%.