The most popular benchmark of small-capitalization stocks on Monday was less than a percentage from a record, underlining a relatively brisk recovery for stocks after last month’s fall of about 10% from recent peaks. The small-cap focused Russell 2000 was up 0.2% at 1601.68 at its intraday peak, putting the gauge just about 0.6% shy of its all-time high close of 1610.71 on Jan. 23. according to FactSet data. The barometer for smaller-cap stocks is on pace to outstrip its larger-cap peers, up 5.8% so far in March, compared with a gain of 4.3% for the large-cap S&P 500 index and a return of 1.5% for the Dow Jones Industrial Average for the month. The stocks of small companies have been viewed as better insulated from a potential trade war arising from President Donald Trump’s decision to institute tariffs on steel and aluminum imports. Smaller stocks have a higher exposure to the U.S. rather than the global market, the thinking goes.
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