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