Software industry
The FANG Effect: A Narrow Market Trend Driving Volatility
In 2015, four stocks known as the FANG acronym (Facebook, Amazon, Netflix, and Google/Alphabet) dominated the U.S. equity market, echoing the late 1990s' Four Horsemen (Cisco, Dell, Intel, and Microsoft). This narrow market trend, characterized by a small number of stocks driving market returns, is concerning investors.