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A trader (c) on the New York Stock Exchange looks at stock rates 19 October 1987 as stocks were devastated during one of the most frantic days in the exchange’s history.
It was a rough day for growth technology investors. So-called FANG stocks lost more than $90 billion in stock value Monday.
FANG stocks are a basket of high-growth technology stocks — Facebook, Amazon, Netflix and Alphabet (formerly known as Google) that have led the bull run of the last 9 years.
Facebook, Amazon, Netflix and Alphabet shares all fell during the dramatic market decline Monday ranging from a drop of 2.8 percent to a 5.1 percent fall.
Alphabet was the biggest loser at $39.5 billion in value lost. The total stock value lost from FANG stocks was $90.7 billion.
Even after the sharp drops Monday, all the FANG stocks are up so far this year. Netflix is still up more than 30 percent year-to-date after its strong December quarter results, followed by Amazon’s 19 percent year-to-date gain.
