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FAANG stocks shed $ 140 billion in Tuesday's market rout




Tech-heavy Nasdaq Composite Index fell almost 4 percent,

The tech-heavy Nasdaq Composite Index fell almost 4 percent, With tech stocks like Apple, Amazon, Alphabet and Facebook, weighing the most heavily.

In total, the so-called FAANG stocks – Facebook, Amazon, Apple, Netflix and Alphabet-owned Google – shed more than $ 140 billion

  • 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 [1[ads1]9659007] 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

The losses extend pain periods for Apple, which has seen downturn in recent weeks, and Facebook, which is suffering a down year on the heels of several scandals. Amazon and Netflix, though, are each up more than 40 percent year-to-date despite getting caught in the rout.

With Tuesday's losses, Alphabet is hanging on modest year-to-date gains, up just 0.8 percent in 2018 .



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