INSUBCONTINENT EXCLUSIVE:
a few blows on traders.
For about 24 hours on Thursday and Friday, losses in the FAANG block looked liable to snowball, bringing back
memories of a similarly out-of-the-blue lurch almost exactly a year ago today
But the nervousness abated, possibly aided by precautions traders have taken to lock in gains that are again approaching historic
dimensions.
More than $300 billion has been added in six weeks to the group, comprising Facebook Inc., Amazon.com, Apple Inc., Netflix Inc
and Google parent Alphabet Inc
But along with the rally has come a jump in the price of bearish equity options on Nasdaq 100 stocks, a sign of brisk demand for contracts
that act as insurance should the rally falter.
Owning insurance has looked prudent at various time this week as everything from
emerging-market rumblings to demand scares caused stock momentum to stall
strategist at WBI Investments, said by phone
up 34 per cent year-to-date, compared with 33 per cent a year ago
They made the list last year, too, before a rout on June 9 pushed large caps to post the biggest selloff since 2008 relative to the rest of
The ratio rises to 3 over the last two and years and stands at 4 over the last 12 months
The $306 billion surge in the FAANGs in the last six weeks made up a third of the roughly $808 billion surge in the total value of the SP
In the meantime, the market cap of a tech-heavy Nasdaq Composite Index has risen to about 49 per cent of that of the SP 500, surpassing the
