Median Stock Short Interest as % of Market Capitalization - Russell 2000 vs. Nasdaq 100 vs. S&P 500

Short sellers are crowding into U.S. small‑caps, where weaker balance sheets, higher borrowing costs, and exposure to slower growth make easy targets.

Image: Goldman Sachs Global Investment Research

Median Stock Short Interest as % of Market Capitalization - Russell 2000 vs. Nasdaq 100 vs. S&P 500