(Bloomberg) — The megacap technology stocks that comprise the FANG accumulation are biconcave in unison. A bassinet of stocks tracked by Bank of America Merrill Lynch — Facebook Inc., Amazon.com Inc., Netflix Inc. and Google ancestor Alphabet Inc. — was trading beneath both its 100-day and 200-day affective averages Wednesday for the aboriginal time back June 2016. As the S&P 500 Index’s sell-off extends to a fifth day, the ML FANG basis has apparent an about 8 percent bead in that period.
To acquaintance the anchorman on this story: Arie Shapira in New York at [email protected]
To acquaintance the editors amenable for this story: Sophie Caronello at [email protected], Nancy Moran
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