The Russell 2000 index of smaller- capitalization stocks, however, gained a modest 0.22 point, to 411.64.

The relative strength of large capitalization stocks is seen by some as a sign that portfolio managers are seeking defensive positions, fearing a market setback.

Other large capitalization stocks also did well.

For the most part, the action was to be in blue chips and other large capitalization stocks such as the companies to which she was assigned.

Most of the top managers had the largest capitalization stocks.

The Russell 2000 index of small- capitalization stocks is down seven-tenths of 1 percent.

"We have been doing some buying, especially in small- capitalization stocks, but nothing wholesale," he said.

Yesterday's selloff was largely tied to large capitalization stocks.

While some of the large capitalization stocks rose, the remainder of the market slumped.

For the first time in a very long time, small- capitalization stocks are now firmly leading the market's charge.