There is a decent chance that alot of institutional money is using this bloodbath to quietly (dark pools) load up on small caps as has been occuring recently.  The poor jobs report the talking heads are making so much over today was a missing component for the Fed to pull the trigger on rate cuts, so amidst the bloodbath the takeaway should be that rates cuts will most certainly be on deck, and that will open the door for smallcaps to join the next rally and the transition should be happening in advance of the rate cut announcement.