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The 2 FAANG Stocks Underperforming the S&P 500 Year to Date By StockNews

by Mike Robinson

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© Reuters. The 2 FAANG Stocks Underperforming the S&P 500 Year to Date

Although the stock market has been able to hold on to steady gains so far this year, FAANG components Apple (AAPL) and Amzaon.com (AMZN) have failed to perform consistent with the market trend. These stocks have underperformed the S&P 500 year-to-date owing in part to President Biden’s executive order that cracks down on anti-competitive practices by tech giants. Keep reading. FAANG stocks include some of the best-known American technology companies. The outstanding market strategies of these companies and their market dominance have helped them rise to unprecedented market-cap heights. They represent approximately 19% of the S&P 500 index and have a substantial influence over the movement of the benchmark index.

However, FAANG stocks Apple Inc. (NASDAQ:) and Amazon.com Inc. (NASDAQ:) have underperformed the S&P 500 since early January.

A growing investor distrust over Fed’s policy meeting has led to the stock market having a chaotic start this week. It also increased the sector’s stress and forced these companies into retreat. Also, the Biden administration’s executive order aimed at increasing the scrutiny of big tech firms for their anti-competitive practices could put further pressure on the FAANG stocks.

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