Meta (formerly Facebook) dropped -23% on Thursday after a disappointing earnings call.
It’s now down -70%(!) year-to-date.
Amazon fell -8% yesterday. It’s down -37% YTD.
Google & Microsoft both dropped -8% after their earnings calls this week. They’re down -29% and -25% for the year, respectively.
The FAAMG complex has propped up the major indices so far during this difficult year for stocks.
But now that they’re beginning to stumble, will they take the markets down with them?
For everything that mattered to markets this week, watch this week’s Market Recap featuring Michael Lebowitz.