Bear territory not yet a crisis
The famous FAANG (Facebook, Apple, Amazon, Netflix and [Alphabet] Google) stocks have all entered bear territory as they trade 20% below their all-time highs. A sell-off in high-flying stocks is always an expected and a healthy part of the market – and with these darlings under pressure, the large US indices have also been weaker. I do not think the selling is finished, but this is not a crisis. What goes up also goes down at times. However, they all have their own challenges that are coming to the fore, and their next take-off may not be as spectacular as previously.