the nasdaq composite index’s value has dropped this year by about 8 trillion shares of the largest us technology firms have fallen out of favor in the most pronounced way since the 2000 tech bubble victims of a shift in investors’ tastes inspired by rising interest rates the 2022 market bust has turned the popular “faang trade”—the practice of buying fastgrowing technology titans such as facebook owner meta platforms inc apple inc amazoncom inc netflix inc and google parent alphabet inc—into a pumpkin of those five companies only apple down 12 this year has outpaced the nasdaq composite index’s 29 decline