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.
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