Tech’s ‘FAANG’ stocks have lost more than $1 trillion from highs

The five “FAANG” stocks collectively lost more than $1 trillion in market value from recent highs as shares dropped after Tuesday’s open.

The stocks — Facebook, Amazon, Apple, Netflix and Google-parent Alphabet — all began Tuesday trading lower. Apple led the group’s losses, falling as much as 4 percent. The four other stocks later turned around, each going slightly positive on the day.

Combined market capitalization losses since their 52-week highs hit $1.02 trillion on Tuesday:

  • Facebook: $253 billion
  • Amazon: $280 billion
  • Apple: $253 billion
  • Netflix: $67 billion
  • Alphabet: $164 billion

The five tech growth stocks, which were the favorite investments for the past decade, each closed in a bear market on Monday. Wall Street defines a bear market as a fall of 20 percent or more from a stock’s 52-week high.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s