Small caps falling fast
The Russell 2000 (NYSE:IWM) is sinking into negative territory, posting losses steeper than those of the other major U.S. indices. At 2:13 p.m. ET, the small-cap index was down 4.95 points, or 0.71%, to 687.44. The Dow Jones Industrial Average had declined 22.88 points, or 0.19%, to 12,279.58.
For no apparent reason, small caps slipped below the flat line after 12 p.m. ET, and briefly attempted to recover before settling on a steeply downward trajectory at about 1:30 p.m. ET.
Shares of companies offering school services are the worst performing industry group, followed by retailers.
Among the losers is Charles Town, W.Va.-based American Public Education, Inc. (Nasdaq:APEI), which provides online postsecondary education to the military and public service communities.
Shares of Lincoln Educational Services Corp. (Nasdaq:LINC) are also sagging.
Turning to small-cap retailers, Sandpoint, Idaho-based women’s retail Coldwater Creek Inc. (Nasdaq:CWTR) is seeing its stock decline 5%, along with women’s plus-size specialty apparel retailer Charming Shoppes, Inc. (Nasdaq:CHRS).
About the Author
Reporter Alex Alexandrov is based in SmallCapInvestor.com's Washington, D.C. bureau.
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