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However, FAANG stocks Apple Inc. (NASDAQ:AAPL) and Amazon.com Inc. (NASDAQ:AMZN) have underperformed the S&P 500 since early January.
Growing investor skepticism over the Fed’s policy meeting led the stock market to a turbulent start this week, further exacerbating the tech sector’s pressure and causing these companies to retreat even more. 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.
