The top contributors to the S&P 500's gains this year have been the so-called FAANGs - Facebook (US:FB), Amazon (US:AMZN), Apple (US:AAPL), Netflix (US:NFLX) and Google, known as Alphabet (US:GOOGL), along with Microsoft (US:MSFT). And Technology and Telecommunications was the best performing Investment Association (IA) fund sector over the month to 30 May 2017, with an average return of almost 6 per cent. However, there was a sharp sell-off in US tech stocks at the end off last week, wiping $140bn (£110.05bn) from the value of US tech stocks on 9 June.
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