Tech stocks tanked for the second straight day

Tech stocks tanked for the second straight day

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It’s been a bad few days for tech stocks.

The FANG stocks, a moniker used to collectively describe Facebook, Amazon, Netflix and Google (now Alphabet) have had a rough two days on Wall Street. And even though Apple isn’t included in the original FANG group (which was designed to describe a grouping of high-risk but high-reward mega-growth stocks), the company has also underperformed in the last two days.

Here’s a brief summary of the damage, between when the market opened Friday morning and closed this afternoon.

  • Facebook is down ~4.5%, falling from to $155.55 to $148.44
  • Amazon is down ~4.75%, falling from $1013.00 to $964.91
  • Netflix is down ~8.67%, falling from $165.82 to 151.44
  • Google, or Alphabet, is down ~4%, falling from $984.15 to $942.90
  • Apple is down ~6.24%, falling from $154.82 to $145.42

The chart below shows their performance over the last month (with the S&P 500 in orange for comparison), which really shows how severe the two-day downturn is.

There are a few…

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Source: TechCrunch

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