
The market’s favorite technology stocks are tanking as investors growing concerned over the companies’ ambitious growth targets following disappointing financial results from Facebook and Netflix this month.
The NYSE FANG+ index is down more than 10 percent from its high of 3,062.88 in mid-June after its 2.7 percent drop Monday to the 2,737 level.
FANG is an acronym created by CNBC’s Jim Cramer for the top-performing technology stocks — Facebook, Amazon.com, Netflix and Alphabet (formerly Google).
The NYSE FANG+ index tracks the performance of FANG stocks along with several other high-growth technology shares such as Nvidia, Baidu and Tesla. The index began in 2014.
Larry McDonald of The Bear Traps Report and a CNBC contributor pointed to several reasons beyond the Facebook and Netflix earnings disappointments for the drop including the rising dollar hurting overeas profits and the risk of a political backlash against these tech giants here and around the globe.
Written by Admin
Product categories
Install your trader software at VPS server of one of the super fast providers:![]() |
|
Do you want to have such profits and charts? Choose our Megastorm EA for trading in the Forex market...![]() |
Finance news
![]() Stocks making the biggest moves in the premarket: Goldman Sachs, Bed Bath & Beyond, JetBlue & moreHere are some of the companies making headlines in premarket trading:Goldman Sachs (GS) — Goldman ... Read More ![]() Stock futures are flat ahead of earnings season kickoffU.S. stock futures were flat in overnight trading on Tuesday ahead of the first batch ... Read More ![]() ‘When is the housing market going to crash?’ is a red-hot search on Google – here’s whyRick Nazarro of Colonial Manor Realty talks with a pair of interested buyers in the ... Read More |