ADVERTISEMENT
FANG Cohort Tumbles 6% in Unprecedented Megacap Technology Rout
FANG Cohort Tumbles 6% in Unprecedented Megacap Technology Rout
04 Apr 2018, 12:50 AM IST
(Bloomberg) -- The market’s darlings just suffered the worst day in at least three years.
(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.
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
©2018 Bloomberg L.P.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT