Tech firms 'FAANG' stocks lose 1 Trillion dollars and counting -

From cnbc.com

The five "FAANG" stocks collectively lost more than $1 trillion in market value from recent highs as shares dropped after Tuesday's open.

The stocks — Facebook, Amazon, Apple, Netflix and Google-parent Alphabet — all began Tuesday trading lower. Apple led the group's losses, falling as much as 4 percent. The four other stocks later turned around, each going slightly positive on the day.

Combined market capitalization losses since their 52-week highs hit $1.02 trillion on Tuesday:

Facebook: $253 billion
Amazon: $280 billion
Apple: $253 billion
Netflix: $67 billion
Alphabet: $164 billion

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Comment by Raz Putin on November 22, 2018 at 10:03am

To our modern day money lenders the destruction of wealth is more important than wealth creation.

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