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FAANG stocks back in correction, losing $140 billion in market value

  • Regular
  • Economy
  • 3 months ago
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Following a torrid day on the stock exchanges FAANG stocks are back in correction.

As a result the NASDAQ composite dropped by more than 4%, altogether the big tech guns gave away almost $140 billion in market value.

Here’s a quick breakdown:

 

  • Facebook fell 2.2 percent, losing $7.6 billion in implied market value

 

  • Amazon fell 5.9 percent, losing $50.8 billion in implied market value

 

  • Apple fell 4.4 percent, losing $38.5 billion in implied market value

 

  • Netflix fell 5.2 percent, losing $6.5 billion in implied market value

 

  • Alphabet fell 4.8 percent, losing $37.5 billion in implied market value

 

 

 

 

Source: Smart Trend Team