Stock Market Update

[BRIEFING.COM] The small cap Russell 2000 is underperforming the broader market, trading 0.8% lower. The index is down 2.8% this week while the S&P 500 sports a 0.8% loss since last Friday.

Small cap stocks are more sensitive to rising rates, so the price action in Treasuries has an outsized impact on the space, which has been the case all week. The 10-yr yield is up 22 basis points since last Friday at 4.37%.

The small cap index also features energy and regional bank shares, which are lagging the broader market today. This weakness has also led the SPDR S&P Regional Banking ETF (KRE) to trade 0.7% lower.