Third quarter 1999 returns for all Russell stock indexes are similar...

Third quarter 1999 returns for all Russell stock indexes are similar to third quarter 1998 returns — negative, according to Frank Russell. The Russell Midcap Value index fared worst of all for the quarter at -10.64%, followed by the Russell 1000 Value index at -9.65%. Large-cap equity stocks tracked in the Russell 1000 index finished the quarter at -6.6%. Small-cap equity tracked in the Russell 2000 index returned -6.3% for the quarter. Value returns again failed to surpass growth index returns. While the Russell 1000 Growth index declined 3.7% during the third quarter, the Russell 1000 Value index dropped 9.8%. Third-quarter negative performance was led by weakness in the financial services sector. The sector’s stocks in the broad-market Russell 3000 returned -14.3%, and those in the Russell 2000 returned -9.5% for the quarter.