Each of the five "FAANG" stocks closed in a bear market on Monday.
Facebook in particular has been hard hit during this round of selling, falling to a new low for the year after a raft of negative publicity surrounding its handling of foreign influence on the 2016 election. Collectively, the five stocks have lost nearly $1 trillion in value since hitting their respective 52-week highs.
Amazon's stock has continued to fall since it gave a fourth-quarter outlook on Oct. 25 which fell short of expectations. Apple shares dropped after the WSJ reported the company slashed orders for the iPhone XR, XS and XS Max models. Netflix and Alphabet shares, meanwhile, have continued to fall with the rest of the FAANG stocks.
Wall Street defines a bear market as a fall of 20 percent or more from a stock's 52-week high.