In the last week the so-called FANG stocks (FB, AMZN, NFLX, GOOGL) have stumbled. As earnings and outlooks disappointed, shareholders have awoken to the new normal low growth world and wiped over $100 bilion in market capitalization of the four horsemen of the Fed’s wealth creation bubble.
FANGs are now down 8 days in a row…
Losing a massive $108 billion in that time…
This is the biggest drop since the February growth scare – which was only saved by massive coordinated global central bank money-printing… which is simply not about to happen this time.
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