The following small-cap stocks in the Russell 2000 performed among the best on Wednesday, according to Benzinga Pro:
Semiconductor components, as reflected by the iShares Semiconductor ETF (NASDAQ:SOXX), are among the other top performers in the index on Wednesday. Trump's tariffs raised concerns about disruptions to a global supply chain spanning the Americas and Asia.
Only around 2.5% of companies in the index closed the day in the red, and around a third closed up over 10%.
Why it Matters: Trump’s tariff plan, a hallmark of his successful 2024 presidential campaign, sparked widespread fear on Wall Street. Economists generally view tariffs as stagflationary, causing both a cessation of economic growth and an increase in inflation.
From Trump’s election on Nov. 5, 2024, to April 8, the Russell 2000 index fell over 26%, putting it in bear market territory. The tariffs presumably were feared to hurt small-cap stocks more than large-cap counterparts, as the S&P 500 and NASDAQ indexes saw comparatively smaller declines.
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