Here's how the FAANGs are faring during the stock market's correction

Justin Sullivan/Getty ImagesGoogle CEO Sundar Pichai.
  • 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.

Stocks officially entered a correction Thursday, when the Dow Jones industrial average and S&P 500 both saw the drops from their most recent highs extend to at least 10%.

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.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.