FAANG tech giants bitten by fresh Wall Street slide

By John-Paul Ford Rojas, business reporter
America's leading technology shares have lost more than $100bn in combined value as renewed fears over Apple's iPhone production sparked a fresh Wall Street sell-off.
Apple was down by 4% after a report in the Wall Street Journal (WSJ) claimed it had cut production of all three of its handsets launched in September.
Other so-called FAANG stocks - which apart from Apple, comprise Facebook, Amazon, Netflix and Google parent Alphabet - were also on the slide.That was part of a wider shares fall, with the Dow Jones Industrial Average off by nearly 400 points, or 1.5%, and the tech-heavy Nasdaq falling 3%.Traders were also reacting to comments by US vice president Mike Pence over the weekend, insisting the US would not back down from its trade dispute with China unless Beijing bows to Washington demands.

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recent jitters over US shares
have dampened some of the spectacular valuations.On Monday, Facebook fell nearly 6% with Amazon and Netflix losing more than 5% and Alphabet sliding by nearly 4%.
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