Everything is selling off on Monday, and the so-called FANGs are getting hit hard.
Facebook, Amazon, Netflix and Google (i.e. Alphabet) were four of the best-performing tech stocks that helped keep the S&P 500 in positive territory last year.
But as global markets sell off on Monday morning, these stocks are down sharply in pre-market trading, with really no company-specific news on any of them. This follows a sell-off across the tech sector on Friday, as LinkedIn plunged 44% after weak earnings, and Tableau Software lost about half its value.
The FANGs are red year-to-date, like the broader stock market. And this early on in the year, it's not looking like the FANGs, nicknamed by CNBC's Jim Cramer, will give the stock market the same kind of momentum they did last year.
To recap their recent earnings results from the fourth quarter: Facebook shares rose to an all-time high after solid results. Amazon's results disappointed. Netflix added fewer-than-forecast US subscribers as it pushes ahead with its international ambitions. And a rally in Alphabet shares briefly made the company the most valuable in the world by market capitalization, ahead of Apple.
The sell-off in these four stocks is helping to pull the tech-heavy Nasdaq lower, and futures were down more than 2%, or 93 points, on Monday morning.
Here's Facebook:
Amazon:
Netflix:
And Alphabet:
Yahoo Finance
Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.