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                            <title><![CDATA[ Latest from Next TV in Netflixm-trump ]]></title>
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                                    <lastBuildDate>Wed, 28 Mar 2018 20:41:00 +0000</lastBuildDate>
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                                                            <title><![CDATA[ FAANG Stocks Pounded in Tech Sell-Off ]]></title>
                                                                                                                                                                                                <link>https://www.nexttv.com/news/faang-stocks-pounded-tech-sell-418915</link>
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                            <![CDATA[ FAANG Stocks Pounded in Tech Sell-Off ]]>
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                                                                        <pubDate>Wed, 28 Mar 2018 20:41:00 +0000</pubDate>                                                                                                                                                                                                                                <category><![CDATA[Business]]></category>
                                                                                                                    <dc:creator><![CDATA[ Mike Farrell ]]></dc:creator>                                                                                                        <dc:description><![CDATA[ null ]]></dc:description>
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                                <p>A general sell-off in the tech sector, combined with some individual company concerns, took much of the bite out of FAANG stocks on Wednesday.</p><p>Shares of Facebook, Amazon, Apple, Netflix and Google all declined Wednesday as the <a href="https://www.wsj.com/articles/tech-stocks-continue-to-slide-in-asia-1522201834">ongoing decline in the tech sector continued.</a> Netflix shares continued their slide on Wednesday, down 5% ($14.92 per share) to $285.77 each. The stock closed at $320 per share on March 26.</p><p>Fears of increased regulatory oversight have pummeled the sector all week – the S&P 500’s information technology sector, down about 5.8% for the week, fell nearly 1% on Wednesday.</p><p>Amazon dipped 4.4% ($65.63 each) to $1,431.42 per share after a <a href="https://www.axios.com/trump-regulation-amazon-facebook-646c642c-a2d7-454b-a9a9-cdc6e4eaef2c.html">report</a> that President Trump is considering adjusting its tax treatment because he is concerned about how the online retailer is decimating mon-and-pop businesses.</p><p>Facebook stock caught a break after the <a href="https://www.nexttv.com/news/facebook-shares-continue-slide-418795" data-original-url="https://www.multichannel.com/news/facebook-shares-continue-slide-418795">Cambridge Analytica scandal</a>, finishing the day Wednesday at $153.03 each, up 81 cents or 0.5%. The stock, however, is still down about 17% from its close on March 16.</p><p>Apple stock fell about 1.1% ($1.86 per share) to $166.48 each after Goldman Sachs lowered its estimates for iPhone demand in the March and June quarters.   </p><p>Google stock declined slightly for the day – it closed at $1,004.56, down 54 cents or 0.05%.</p>
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