Political terminology is confused terribly by the use of left and right to describe both economic AND socio-cultural beliefs, on the assumption that they automatically go together when often they don't.
So left wing was originally an economic term meaning in favour of wealth redistribution, working towards greater economic equality, a role for the state in reducing the effects of capitalism in causing vast inequality, potentially supporting full socialism or even communism. Then it started being used for being pro social equality: gay rights, women's right etc. but also (confusingly) for a kind of social libertarianism: favouring legalisation of drugs, relaxing of gender roles etc.
Right wing was originally an economic term meaning favouring free market capitalism and a small state with minimal intervention. Then it started being used for social positions often put forward by people alongside this: conservative attitudes to societal norms like family structure, heteronormativity, community cohesion through similar attitudes to religion, social behaviour etc. And when taking that to extremes, racism and bigotry.
What's particularly confusing in relation to the OP is that people tend to use the term "far left" to mean economically extreme (socialist or communist), but "far right" to mean socially extreme (racist, fascist).