INTERNATIONAL - So-called FANG stocks and other tech shares sank in extended trade on Thursday following disappointing quarterly reports from Amazon.com Inc and Alphabet Inc.
The weak results from Amazon and Google parent Alphabet were the latest setback for the high-growth quartet of stocks known as FANG, which also includes Facebook Inc and Netflix Inc.
Nasdaq futures NQcv1 fell 0.8 percent and S&P futures EScv1 lost 0.5 percent, suggesting the US stock market may see more selling when it opens on Friday.
Wall Street favorites in recent years, the FANG stocks have been punished in a month of volatility for US equities that has some investors worried a decade-old bull market may be ending.
The FANG group, along with heavyweight tech stocks Apple and Microsoft, have made outsized contributions to the S&P 500’s gains in recent years, and a prolonged downturn for those stocks would be a major setback for the market.