The US stock market observed significant losses in October 2018.
US stock market lost about $2 trillion in a single month of October 2018. However, it was the worst month for S&P 500 since 2011. This month, the hardest hit stocks were biggest technology stocks generally known as FANG.
October emerged as the tough period for US stocks as despite regaining the portion of month’s losses. The last month termed as one of the worst months since the 2008 financial crisis.
According to S&P Dow Jones Indices analysts, The S&P 500 observed the loss of $ 1.91 trillion in October 2018 alone. However, the losses were observed across different industry sectors.
FANG or some big technology stocks like Alphabet, Netflix, Amazon, and Facebook were significantly dropped down. However, they ended down by 9.7, 19.3, 20.2, and 7.7 percent respectively.