Citi strategists stated that growth companies in the NASDAQ 100 Index are better able to withstand market fluctuations than small-cap stocks in the E-mini Russell 2000 Index. "We prefer to seek a safe haven within the NASDAQ 100 Index, as we believe the volatility in trade negotiations and macro data may persist," wrote Scott Chronert, head of US equity strategy, in a report. Over the past two years, the NASDAQ Index has outperformed the Russell Index in terms of market upside potential, and this trend has remained unchanged even after Trump announced tariff increases on 'Liberation Day,' strategists noted. For the Russell Index to outperform, it requires economic data to exceed expectations, interest rates to decline, and the dollar to strengthen.