1 min read.Updated: 04 Sep 2020, 01:09 PM ISTAvneet Kaur
The FAANG stocks-- Facebook, Apple, Amazon.com, Netflix and Alphabet sank between 4.6% and 6.2% in one day.
International mutual fund schemes investing in the US stocks have taken a hit of upto 4% in their single day NAV as on September 4 after a wild day on the Wall Street. The Nasdaq Composite tumbled nearly 5% and the Dow fell more than 800 points in one day. Franklin India Feeder Franklin US Opportunities Fund has fallen by 4% in one day, followed by Nippon India US Equity Opportunities Fund. Nippon's fund has gone down by 2.6%. Wall Street's main indexes tumbled on Thursday, heading for their worst day since June as investors dumped high-flying technology-focused stocks.