The FAANG stocks have been losing their luster lately.
The basket of tech giants is down an average of 3.72% over the last month. Alphabet is the biggest loser and is down 5.39% over the last month.
The sell-off comes as investors worry that the too-hot stocks are sporting valuations much higher than other sectors of the market. The companies have been selling off for most of the last month, dragging the tech-heavy Nasdaq 100 with them.
Other markets are faring better than tech, as the Dow is up 1.09% and the S&P 500 is down 0.6% over the last month, compared to the Nasdaq 100 which is down 4.60%.
FAANG stocks are generally positive for the year, despite the recent declines. The FAANG stocks are up an average of 22.85% this year. The S&P 500 is up 7.92% and the Dow is up 8.14%.
Here is a breakdown of each of the FAANG companies per their performance on Thursday.
- Facebook (FB): –1.28%
- Amazon (AMZN): -1.11%
- Apple (AAPL): –1.02%
- Netflix (NFLX): -1.90%
- Alphabet (GOOGL): -1.19%