New York (CNN Business) Small American stocks have tumbled into a big hole, reflecting mounting slowdown fears on Wall Street. The Russell 2000 index of small-cap stocks plunged into a bear market on Monday, reflecting a 20% decline since hitting a record high in late August. That marks the first bear market for the index since the downturn that spanned June 2015 to February 2016, according to Bespoke Investment Group. The Russell 2000's downfall is significant because the index is viewed as a barometer for confidence in American growth . The index contains 2,000 smaller companies that do little business overseas, making them highly exposed to swings in the domestic economy.

Source: CNN December 17, 2018 20:37 UTC