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FANG Cohort Tumbles 6% in Unprecedented Megacap Technology Rout

FANG Cohort Tumbles 6% in Unprecedented Megacap Technology Rout

(Bloomberg) -- The market’s darlings just suffered the worst day in at least three years.

The NYSE FANG+ index, tracking the FANG block and six of its megacap brethren, tumbled as much as 6.3 percent in the biggest rout in data going back to September 2014.

Twitter Inc. and Nvidia Corp. led the plunge with double-digit declines as all 10 members retreated. Facebook, Amazon, Netflix and Google fell at least 4.5 percent.

FANG Cohort Tumbles 6% in Unprecedented Megacap Technology Rout

To contact the reporter on this story: Lu Wang in New York at lwang8@bloomberg.net.

To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Sarah McDonald

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