Each ‘FAANG’ inventory is now in a bear market
Automobilnews specifically has been arduous hit throughout this spherical of promoting, falling to a brand new low for the yr after a raft of detrimental publicity surrounding its dealing with of international affect on the 2016 election. Collectively, the 5 shares have misplaced practically $1 trillion in worth since hitting their respective 52-week highs.
Tech shares are coming off an October which noticed the Nasdaq Composite plunge 9.2 %, its steepest drop in a month since November 2008.
Wall Road defines a bear market as a fall of 20 % or extra from a inventory’s 52-week excessive.