- US stock markets are officially in a correction after Thursday’s massive drop.
- Apple is the only FAANG stock to outperform the S&P 500 this week.
The FAANG stocks – that is, the tech basket consisting of Facebook, Apple, Amazon, Netflix and Google-parent Alphabet – have been hit just as hard, with only Apple outperforming the S&P 500 this week.
Over the past five trading sessions, the S&P 500 – a common market performance benchmark – has lost 8.27%. Here’s how the individual FAANG stocks have fared:
So far Friday, the major averages see-sawed between gains and losses before plunging deeper into correction territory. The S&P 500 is down about 0.9% just after noon ET.