FANG Stock Bleeding Accelerates in Worst Day in Almost 3 Months
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The megacap technology stocks that comprise the FANG group are sinking in unison.
A basket of stocks tracked by Bank of America Merrill Lynch, comprised of Facebook Inc., Google parent Alphabet Inc., Amazon.com Inc. and Netflix Inc., fell as much as 4.1 percent for its biggest loss since late July. The group has plunged about 8 percent in the past five sessions, sparked by a selloff in Treasuries that sent yields surging to multi-year highs.