Big technology stocks are underperforming the S&P 500 and investors are pulling money out of the sector, according to Nick Colas, Chief Market Strategist at Convergex. Colas said while Facebook (FB) has been doing well, other names, like Netflix (NFLX) and Alphabet (GOOG) , have fallen out of favor. Colas said money is flowing out of exchange traded funds that track technology stocks, even as some tech stocks rallied in May. Colas says while technology stocks could move higher still in June, but he doesn't think the FANG stocks exhibit the kind of leadership that we've seen in prior years. TheStreet's Rhonda Schaffler reports from Times Square.
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