This is exactly what happens when a stock is priced for perfection. In the first Q of 2018 I have warned about Netflix price. Stating before its earnings release that “Netflix is flying this year and its already up ~62% year to date with high expectations comes great responsibility (or risk) results better be good for Netflix”. P/E ratios have been ignored for a long time now, missing estimates (especially internal ones), could lead to this awful down movements. This down movement bundled also with Amazon prime day glitches are supposed to send the FANG stocks tomorrow for a negative open. After all, tech stocks are responsible for most of the gains of the S&P500 so it would be interesting to see what will happen tomorrow.