Russell 2000 Falls Into Correction Territory

The Russell 2000 fell 14 points, or 1.2% to 1,158 on Friday and is trading more than 10% below its June 23 peak, meeting a widely-used definition of a correction. This is the second such correction since last October, when the index of small-cap stocks fell more than 13%. The Russell 2000 is often seen as a leading indicator of the direction the broader market. The benchmark S&P 500 has moved mostly sideways from the beginning of the year, but this week's steep losses pushed the benchmark into negative territory for the year. The S&P 500 is now down more than 5% from its May 21 peak.