Fresh restrictions to curb the spread of coronavirus overshadowed more promising vaccine developments.
The major benchmarks and the Russell fell to their session lows after New York City Mayor Bill de Blasio announced the city’s public schools will move to remote learning starting Thursday.
Small-cap stocks have rallied more than 15% this month following promising news on coronavirus vaccines. Many investors were betting smaller companies could see a faster earnings rebound amid a recovering economy. The cohort largely missed out on the market’s historic comeback earlier this year as large tech companies, which are better positioned for the stay-at-home economy, led the charge.
