News > Financial Services

A Perspective on the Recent Meltdown in FAANG Stocks

By BenZinga
Financial Services

Tech stocks, which led the rally for much of the current stock market bull run, are also leading the market sell-off that’s occurred since the start of October.

The crème-la-crème of the tech space — Facebook, Inc. (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), Netflix, Inc. (NASDAQ: NFLX) and Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) — are collectively known as the FAANG group and have generated negative returns this fall, with Google and Facebook in the red for the year.

Bloodbath Trips Stocks Off Peaks

The group has lost a collective $1 trillion in market value since hitting their highs for the year, the Financial Times reported, quoting data from Bloomberg.

Both Apple and Amazon were the first to join the $1-trillion market cap club earlier this year, although both stocks dropped …

Read the full story at Benzinga.

Photo: Getty iStock

Subscribe to our Newsletter

Be one of the first to experience the future of financial services