TOKYO -- A new trend is emerging in global stock markets as investors began to shift focus from globalization to a "divided world" after the Russian invasion of Ukraine. Shares of once-highflying tech giants have slumped, while those in more mundane sectors like energy and agriculture are performing well.
Just after the war started in late February, Joseph Quinlan and Lauren Sanfilippo, private banking strategists at Bank of America, began touting a new investment grouping as an alternative to the dominance of FAANG -- U.S. tech giants Facebook (now Meta), Apple, Amazon, Netflix and Google.
