Stocks wipe out 2018 gains as FAANG stocks slide into a bear market

Sad traderREUTERS/Lucas Jackson

  • Stocks erased gains for the year Tuesday, dragged lower by the biggest technology companies.
  • FAANG stocks entered a bear market, marking the first in seven years for Google parent Alphabet.
  • Follow the US indexes in real time here.

Wall Street erased yearly gains Tuesday as high-flying technology companies plummeted into a bear market, adding to fears about slowing growth and trade tensions.

The tech-heavy Nasdaq Composite dropped 1.7% to a seven-month low, while the S&P 500 shed 1.74%. The Dow Jones Industrial Average tumbled more than 2%, or about 550 points.

See the rest of the story at Business Insider

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Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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