FAANG is the new acronym for Facebook, Amazon, Apple, Netflix and Google (parent company, Alphabet).
together, they are the new tech giants. over recent years, there has been no safer bet than these behemoths. however, since late summer, these corporations have combined to lose close to $1 Trillion in market capitalization. all are now officially in bear territory and the characteristics of bubble like valuations being the possible reason for the reversal in fortunes.
Charts: visualizing the bear market in FAANG stocks
the NASDAQ Composite - a tech bellwether, is showing signs of pain as well.
other big tech is in the doldrums too.
and the FED is going to raise interest rates in December.....