This brings us to Friday's widely-publicized "Tech Wreck." Ahead of the weekend, the massive, former market-leading FAAMG stocks (Facebook, Apple, Amazon, Microsoft and Google) led a big reversal in U.S. tech stocks. As of writing, each of those stocks is trading off over 5% from their intraday highs, and the NAsdaq 100 index of technology stocks is trading off by over 4% as a result.
Imagine oversleeping on Friday morning and waking up to find the Nasdaq down 100 and the Dow up nearly 50. You probably would’ve thought you were dreaming. Perhaps you’d roll over and go back to sleep. In this new era of strange trading days, Friday had to rank right up there with the strangest of them.