Market Extra: Apple’s stock tumble makes it unanimous — the FAANG bull market has ended

For the first time, all five FAANG stocks are in bear markets.

Apple Inc.’s stock AAPL, -4.78% made it unanimous Tuesday, as it tumbled 4.8% to the lowest close since May 3, helped there by a price target cut at Goldman Sachs. The stock closed 23.7% below its Oct. 3 record close of $232.07.

Many on Wall Street define a bear market as a decline of 20% or more from a bull-market peak. On Monday, Apple’s stock dipped briefly into bear market territory, but pared losses to close 19.9% below its record. Read more about how Apple flirted with a bear market.

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