Significant decline in stocks of Chinese IT-giants and recent weakening of half of FANG group makes investors worry that there is no enough fuel for further growth of Wall Street’s key sector, Reuters writes.

More than impressive growth of Facebook, Amazon, Netflix and Alphabet supported US stock market in recent years. S&P 500’s IT-sector gained 16% in 2018.

However, recent report of Chinese Tencent Holdings, showing first profit reduction in almost 13 years, also demonstrated high dependence of Wall Street from IT-sector. Shares of Tencent lost more than 6% in recent days and almost one third from high level of January.

Shares of Netflix and Facebook also demonstrated big decline after their quarterly reports were published. Netflix lost 22% from record level in July, and Facebook lost 19% since July 25. Chinese Internet giants Baidu and Alibaba lost 11% and 7% since end of June amid concerns about influence of trade war.

Another half of FANG shows growth so far. Amazon gained more than 60% this year, while Alphabet 17%.

FANG will play important role in the market next two or three years, experts of Longbow Asset Management think.

It shall be noted that growth of S&P 500 this year is 6% so far.