My fancy-schmancy FANGMAN index dropped 4.3% today, the most since December 24.
Nasdaq down 8.7% in May. S&P 500 back to Jan 2018. Russell 2000 down 15.7% from peak, back to Sep 2017. FANGMAN except Microsoft get creamed.
But a whole generation of investors has never been through a Nasdaq-bubble unwind, and they’re shocked.
Apple plunges. FANGMAN stocks down 10.4% for the week, down $1.12 trillion from peak.
One after the other, individual stocks are getting crushed.
It gets costly when the entire market depends on a handful of over-hyped mega-caps.
Fears the bull market died sent people & algos scrambling out of the way.
Amazon, Google, Netflix, Nvidia get crushed. Et tu Apple?
Yet, the crybabies on Wall Street are already clamoring for the “Powell put.”
The FANGMAN stocks went to heck afterhours.