The more small-cap stocks get scorched, the more problematic some analysts say they could become for big caps.
But as of now, there aren't a lot of calls for a major downdraft despite the near 10 percent decline in the Russell 2000, and some analysts see the large cap indexes as more likely trapped in a sideways correction for a while, barring any macro catalyst. The Russell is down 9.5 percent from its March 4 high, and a double-digit decline is viewed by some traders as an official correction.
Stocks seesawed Thursday, and the Nasdaq and small cap Russell 2000 were the worst performers. The Russell fell nearly a percent to 1,097, and the Nasdaq was off 16 points or 0.4 percent to 4,051. The Dow was 32 points higher at 16,550, while the was slightly lower, off 2 points at 1,875.