Time to mourn the dead, folks.
After falling 0.8% on Tuesday against the S&P’s negligible decline, the Russell 2000 has now erased the entirety of its post-election relative outperformance.
The index has now underperformed the S&P consistently for going on three weeks (bottom pane).
“Trump‘s press conference on infrastructure quickly swerved to him launching new controversial comments on that deadly confrontation between protesters in Virginia,” Bloomberg’s Ye Xie wrote this afternoon, adding that “it’s a typical pattern of his political woes stealing the limelight from the economic agenda [and] if there’s any doubt that the Trump trade has gone out the window, take a look at small caps.”
Another Trump trade bites the dust.
“Bring out your dead!”…