According to CNBC, the Russell 2000 has fallen more than 5% over the past month as 10- and 30-year Treasury yields climbed to levels not seen since the early 2000s, while the Nasdaq-100 has risen more than 5% over the same period. BTIG's Jonathan Krinsky said the Russell 2000 is down about 16% relative to the tech-heavy benchmark, putting the ratio's relative strength index at 12.77, only the fourth time since 1985 it has dropped below 14. Krinsky said the prior three instances were in July 2007, August 2011 and March 2020, and he added that a buying opportunity may emerge even though oversold conditions do not necessarily mark a bottom. He also said yields are showing signs of exhaustion and that a meaningful move lower could help the Russell 2000, while Barclays highlighted Ultra Clean Holdings, Penguin Solutions and PTC Therapeutics as small-cap names that could outperform in a rebound.