By Matthew Makowski Investors were spooked through most of October. At one point, the year’s market gains were entirely erased. Now, despite signals of recovery, a degree of caution is to be expected.
The darling FAANG stocks took it especially hard last month. Amazon (Nasdaq: AMZN) had almost $120 billion wiped off its trillion-dollar market cap in a matter of days. And shares in Google parent company Alphabet (Nasdaq: GOOG) fell sharply after a mixed third quarter earnings report.
Even a rosy third quarter earnings report couldn’t protect Netflix (Nasdaq: NFLX) from the bloodletting. The media company saw a 30% drop in share price over …read more