Russell 2000 Sinks 11% From Peak, Hits Correction as Rates Rise

The Russell 2000 Index entered a correction with Wednesday’s plunge as rising inflation and interest rates push the riskiest stocks in the market below important averages.

The index, which tracks small-cap stocks, fell 11% from its peak, meeting the technical definition of a correction.

The sell-off was triggered by a rise in Treasury yields, which makes bonds more attractive relative to stocks.

The impact on seafarers is minimal, as the stock market performance does not directly affect their working conditions or pay.

The impact on the shipping industry is also minimal, as the correction does not directly affect the industry’s operations or profitability.