Why stock-market volatility may rise Friday due to Russell rebalancing

Investors are bracing for a heavy day of trading Friday due to the rebalancing of the Russell U.S. equity indexes, an annual reconstitution that comes amid elevated volatility in the stock market.

Volume will likely surge heading toward the closing bell Friday, according to Jay Woods, chief market strategist at DriveWealth, a broker-dealer on the floor of the New York Stock Exchange. The U.S. stock market opened lower Wednesday, but the Dow Jones Industrial Average DJIA , the S&P 500 SPX and Nasdaq Composite COMP were showing gains in afternoon trading, according to FactSet data.

Growth stocks have been pummeled in 2022. The Russell 1000 Growth Index RLG has plunged almost 29% this year through Tuesday, with its losses exceeding the Russell 1000 Value Index’s RLV 14% drop, according to FactSet.

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