In a banner month for global equity markets, the Russell 2000 clinched a historic milestone of its own. The US small-cap index climbed more than 18% in November, the best monthly gain since its inception in 1984.
As shown below, this monthly advance outdistanced the previous record set in February 2000 amid the collapse of the dot-com bubble and waning large-cap dominance. The small-cap index also outpaced the Russell 1000’s 11.8% increase in November, narrowing its performance gap with its large-cap counterpart for the year (up 10.4% versus 16.1%, respectively).
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