Here Are the Theories for Why Mega-Cap Tech Stocks Took a Bath
- Strategists blame computerized selling, central banks, tweets
- FAANMG stocks averaged a 1.6% decline over past two sessions
FAANG Stocks Hit Hard in Tech Selloff
This article is for subscribers only.
Blame the computers...or the hedge funds...or the hedge funds with computers.
Pundits have been grasping for the root cause behind the brisk retreat in tech giants like Facebook Inc., Amazon.com Inc., Netflix Inc., Alphabet Inc., Microsoft Corp., and Apple Inc. that started on June 9 and carried through the weekend.