Economics
All-Night News Cycle Turns Up Stress on U.S. Megacap Stocks
- Russell 2000 overnight moves fall below S&P 500 for first time
- Safe haven in domestic economy shield small-caps from bounces
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While the U.S. sleeps, anxiety levels are rising for the biggest U.S. stocks.
Thanks to an almost doubling in volatility from 2014, shares in the Standard & Poor’s 500 Index are swinging more during off hours than their small-cap brethren for the first time in at least 15 years. Data compiled by Credit Suisse Group AG measured the difference in price between when exchanges close at 4 p.m. in New York and reopen the next day at 9:30 a.m.