FANG GOES BANG

The combined prices of the compnents of the FANG index (made famous by Jim Cramer of CNBX) is getting destroyed. For those unfamiliar with the acronym, the letters represent the Facebook

, Amazon.com

, Netfix Inc.

and Google

. At the end of 2015, the combined prices of these four issues was $1653.73. As of 2:30 PM on Wednesday, the FANG index was at $1494.40. That represents nearly a 10 percent decline for the year compared with a decline of just under 7 percent for the S&P 500 Index.