Small caps start the week with a whimper; ABNJ, SGLP and CLSN lead gainers

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A fresh batch of economic data today was predictably awful, with the New York Manufacturing Survey sinking to a record low and the industrial production report showing a decline of 0.6%. This, coupled with slumping financial and homebuilder shares, pulled the Russell 2000 (NYSE:IWM) down over 3% at closing. Some of today's small-cap gainers are American Bancorp of New Jersey (Nasdaq:ABNJ), SemGroup Energy (Nasdaq:SGLP) and Celsion Corporation (Nasdaq:CLSN).

Other Market Watch highlights included:

• The Russell 2000 is now down 41% for the year, while the Dow is off 35% and the S&P 500 down 41%.
• The big news on the banking front today was an analyst downgrade on JP Morgan, which pulled down the rest of the financial universe.  
• Treasury market yields tumbled some 2% on the day, indicating that money was moving toward safe-haven outlets in concert with the weak tone in equities.
• Homebuilder stocks took it in the chin today, pulled down as Fitch lowered a large batch of homebuilder debt ratings. The ISE Homebuilder Index tumbled 5.7% and a raft of small-caps homebuilder stocks tumbled. 
  
• Crude oil prices actually reversed a morning rise of some $3 a barrel to close down $1.77, or 3.82%, at $44.51, a sloppy performance.
• The greenback tumbled a whopping 2.5% against the euro, more than 300 basis points on the day, providing a lift to commodity markets.

Small-Cap Winners:

• Investors Bancorp to acquire American Bancorp of New Jersey; shares of ABNJ rise 28%. See (Nasdaq:ABNJ). 
  
• SemGroup Energy up 25% on light volume, buoyed by the rise in energy stocks overall today. See (Nasdaq:SGLP).
• Celsion Corporation is up 24% after announcing an exclusive Japanese license agreement with Yakult Honsha Co. for ThermoDox drug. See (Nasdaq:CLSN).
• Safe Bulkers Inc. rallied 17% as the marine drybulk carrier continues to show upside promise after bottoming out in late November. See (NYSE:SB).  

Small-Cap Losers:

• Huntsman Corp. collapsed 49% on unusually heavy volume as the chemical company’s deal to be acquired by Apollo Management fell through. See (NYSE:HUN).
• Developers Diversified Realty Corp. plunged 21% as the shopping center management firm said that a deal they had to sell off assets would not close in December as previously hoped. See (NYSE:DDR).
• Allis-Chalmers Energy Inc. tumbled 19% to fresh 52-week lows. See (NYSE:ALY).