FRom 1 January 2016 to 1 March 2018, the FAANG stocks (Facebook, Apple, Amazon, Netflix and Google) outperformed the S&P 500 by over 50%. THe FAANG stocks accounted for more than 30% of the S&P500's total gains over the same period.
The significance of the above is that the opposite also holds true- as FAANG gains starts to unwind led by Facebook (looking to head towards $130) , it will also cause the S&P to fall harder and faster.
