Investors Fear FANG Stocks Midday, but Chipotle Heats Up


Investors Fear FANG Stocks Midday, but Chipotle Heats Up

Hot news – Halloween is on the horizon and investors are stocking up on garlic and recoiling from the FANG stocks midday.

Amazon (NASDAQ:AMZN) took the biggest bite, falling about 8% at 11:40 AM ET (15:40 GMT), after the company missed revenue expectations and warned on holiday sales after the bell yesterday.

Google parent Alphabet (NASDAQ:GOOGL) lost about 3% following its lower-than-expected print on revenue.

Fellow vampires Facebook (NASDAQ:FB), off about 2.6%, and Netflix (NASDAQ:NFLX), down about 3.6%, also struggled.

If you’re one of those who spell it FAANG (but not FAAAN after Google’s name change), Apple (NASDAQ:AAPL) was also down, losing about 1.8%.

While hampering tech, Amazon had more of an impact on its natural domain of consumer discretionary stocks.

The online retailer was the second-biggest loser, behind Mohawk Industries (NYSE:MHK), in the S&P 500 Consumer Discretionary index, which fell about 3.6%.

One of the few bright spots in that sector was Chipotle Mexican Grill (NYSE:CMG), which climbed about 1.7%.

Chipotle topped profit expectations after the bell yesterday and also reaffirmed its guidance for comparable sales.

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