Small caps rally but risks loom as coronavirus batters economy [Reuters]
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Source: Reuters
Small caps rally but risks loom as coronavirus batters economy (Reuters) - Some investors are casting a wary eye on a recent rally in small-cap stocks, highlighting the struggles many expect smaller companies to face as the novel coronavirus slows the U.S. economy. The Russell 2000 - where market capitalizations last year ranged from $150 million to $5 billion - has bounced 20% from its March lows, roughly in line with the S&P 500's .SPX 23% gain from its recent trough. Small-cap stocks are often seen as a barometer of investor sentiment and tend to be among the first to recover in an economic revival. The Russell 2000 index is down 29.7% from its recent February peaks. Yet some believe betting on a sustained rebound in small caps could be a risky proposition, as the extent of damage from the coronavirus pandemic to the broader economy and smaller firms in particular remains uncertain. “The good news is, we’ve obviously seen a lot of the downside,” said Jill Carey Hall, head of U.S. s
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