Deep Dive: Fear the FAANG stocks? Here’s a better S&P 500 index fund for you

The 20% decline in Facebook’s stock Thursday after disappointing second-quarter results underscores how sensitive investors can be to bad news for a high-flying tech company.

Investors in S&P 500 Index funds suffered collateral damage, as they did last week when Netflix’s shares tumbled after the video-streaming company failed to hit its own subscriber target.

The FAANG group of companies — Facebook FB, -20.06% Amazon AMZN, -2.84%AAPL, -0.18%AAPL, -0.18% Apple AAPL, -0.18% Netflix NFLX, +0.06% and Google holding company Alphabet GOOG, +0.07%GOOGL, +0.32% — together had a market value of $3.37 trillion as of July 25.

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