Fallen FAANGs, Nasdaq Wipeout, Value Rally Mark 2022 for Tech Stocks
- Nasdaq 100 has lost $5.6 trillion in market value this year
- FAANG weighting in the S&P 500 Index drops to two-year low
The Nasdaq 100 Index has fallen 28%.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Investors will remember 2022 as the year when the narrative around Big Tech finally cracked, ending a years-long stretch of powerful market leadership. Next year offers few signs of relief.
Marquee stocks like Amazon.com Inc., Alphabet Inc., Tesla Inc., Nvidia Corp., and Meta Platforms Inc. have lost a third of their value or more this year, and the tech-heavy Nasdaq 100 Index has fallen 29%, wiping out about $5.6 trillion of market value.