A standard part of most of the news articles about recent market moves has included the phrase "risk off" indicating investors fleeing from riskier asset classes. Certainly the large gains in price/fall in yields for US Treasury Bonds fits that description.
But looking at the US stock market the view seems a bit different. Small Cap stocks are considered to be riskier than large cap. This chart shows that US small caps represented by the Russell 2000 (brown line below) have performed far worse than the large cap S+P 500(SPY). It began its drop already during the first quarter of this year.
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| Year to Date |
Yet here is how the charge looks for the past 5 trading days
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| 5 Days |
Looking internationally Emerging markets (etf IEMG) are also considered an asset class sold during "risk off " periods. But here is IEMG(brown) vs SPY ytd and below that the last 5 trading days
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| Year to Date |
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| 5 days |
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