market alert after yesterday's big late-day slides, stocks looking weak again. the latest trades and why sentiment keeps whipping around. a big break through. china says north korea has agreed to denuclearize the korean peninsula. and lulu pops,twitter drops, and investors slam the brakes on tesla. a full roundup of stocks to watch on this wednesday, march 28, 2018 "worldwide exchange" begins right now.

♪ this is "worldwide exchange" on cnbc i'm brian sullivan thanks for joining us from wherever in the world you might be watching. here are the five big things you need to know now one, wall street likely remaining under pressure this morning. this follows yesterday's big tech-led drop. dow futures indicating a drop of 79 points. the white house says it has reached a new trade deal with south korea. the pact will open up south korea's market to more u.s. auto sales in exchange for some relief from steel tariffs. president trump announce the those tariffs last week. softbank and saudi arabia inking a massive 2$200 billion solar deal this will create a solar project three times bigger than anything currently under development in the united states. they announced that deal in new york last night. a dozen states now planning lawsuits against the trump administration it is over plans to add a

citizenship question to the 2020 census. and tesla out defending its autopilot technology after an investigation was launched into a fatal model x suv. let's check on all the global markets to start your day. futures are slightly lower in the states all eyes on tech the big tech stocks, the f.a.n.g. names, they had their biggest simultaneous drop in years yesterday. it's also important to watch bond yields. all the talk and worry about higher yields, something interesting is happening bond yields are going down across the board ten-year at 2.75%. our slide hitting asia overnight. they're down across the board, led by hong kong's 2.5% drop france and germany down by over 1% oil down about 1%. gold lower look at bitcoin.

bitcoin remains below 8,000. let's get back to your top money story, the markets yesterday's late-day selloff driven bay by a remarkable and rare drop in f.a.n.g. names. here's how they look right now as of the latest trade facebook down about 1.25%. amazon the least hit of the major ones netflix down almost 2% alphabet down 0.4% now let's talk about this and everything else with peter boockvar, chief investment officer at bleakly advisory group, also a cnbc contributor and a guy who does not like to sleep. welcome. >> thanks. >> for years the same five or ten stocks pulled this market higher all the f.a.n.g. names, every hedge fund and etf owns them heavily. if they go down, is there any way the overall market can go up >> it's unlikely

particularly when it's a valuation play in addition to the recent fundamental news with facebook i want to give the backdrop. when monetary tightening intensifies, when interest rates go up that exposes vulnerabilities. it exposes five stocks driving the entire market it exposes the valuations of a lot of these things, and everything underneath cannot be immune to that >> i can make the argument for facebook, they're under investigation. they have a core problem right now with their company amazon, humming. alphabet, humming. why are they all falling >> facebook was still trading at ten times sales. amazon has a triple digit pe ratio. it makes investors when they see stuff like this, like the potential negative for facebook, and the monetary tightening going on, it makes investors more discriminating in terms of

valuations like you said, when everyone piles in, when everyone loves, when you get to market caps of 500, 600, 7$700 billion, that's priced in a lot of good news >> we showed viewers the other day that facebook is in over 200 etfs, more than 5% of 27 etfs. you add in google and netflix, amazon, apple, microsoft, you have 30% to 40% in five or six stocks of many major etfs. if they continue their slide, what can we expect for people who done even own these names? >> unfortunately it makes everything else vulnerable because of the valuation back drop at the same time that monetary tightening is intensifying, i believe so that 17, 18 pe multiple, people may say let's pay 14 times, 15 times. so you may not get a change in earnings per share, but markets

will go down >> why are bond yields going down i thought we were supposed to be at 3.5% on the ten-year. it's 2.75. >> a lot of it is curve flattening we've seen soft european economic data. the german ten-year below 50 basis points that created a drag lower on the ten-year the curve flattening is important here the twos and tens spread is down to 50 basis points >> for our viewers not bond gurus what does that mean curve flattening >> we have the fed raising short-term interest rates, which is creating an upward lift to short rates. the ten-year is more sensitive to market participants belief on growth and inflation so this flattening is really betting on that this monetary tightening will eventually lead to slower growth and possibly slower inflation, therefore the curve flattening we're at close to a ten-year flat between the -- narrow between the twos and tens.

>> peter boockvar joining us nice and early this morning. thank you very much. there's a pair of economic reports on your agenda today we get the final read on fourth quarter gdp. 8:30 eastern time. growth is forecast to be revised upwards to 2.7% from the previous estimate of 2.5%. at 10:00 a.m., look for the numbers on pending home sales. everybody interested in real estate that massive facebook data scandal, new information on it shares in facebook lower again this morning lawmakers on both sides of the atlantic turning up the heat on mark zuckerberg. let's get to arjun kharpal live in london with the latest because facebook getting grilled or at least wants to be grilled by the members of parliament >> that's right. uk lawmakers have asked zuckerberg to appear here in the uk in front of mps to talk about what has happened with cambridge

analytica. facebook sent a letter back to the uk lawmaker saying they will send chris cox and their chief technology officer, and that's when damian collins said that was astonishing. he said he will send another letter to mark zuckerberg to clarify whether zuckerberg has denied the invite or will come back and testify at a later date collins also weighed in on some changes facebook announced under the cambridge analytica scandal including changes to the news feed and making it easier for people to check what data the social network holds on it let's listen in to what he had to say >> the changes announced since this story broke last week and mark zuckerberg discussed last week, i think that's stuff they were working on any way. a lot of it is stuff they would have needed to have done to be

compliant with the new data protection laws in europe. i think the company was very reluctant to engage in proper questions and answers during our inquiry, certainly when we started it towards the end of last year. i think they have gotten more cooperative because they can see these are really big issues for facebook users >> clearly damian collins there, lawmaker in the uk not impressed so far with what he's seen with facebook he mentioned a key piece of regulation coming into the eu soon, the general data protection regulation which will put more onus on tech companies to be responsible with the data and make it easier for consumers to see the data being held that's what he's eluding to when he said facebook should have already been doing this. i asked about whether this facebook/cambridge analytica scandal put more focus on other

tech companies and whether he will call some of those other large u.s. tech giants in front of lawmakers he did not rule that out he said they could be getting in touch with other executives at those companies. it's clear the regulatory scrutiny is on facebook and the entire tech industry that could be a head wind in the months to come for the sector. back to you. >> this is front-page news here in the united states, not just on cnbc, but in sort of the general media as well. how is the facebook story playing out in the uk? >> it's absolutely huge. yesterday christopher wiley, the whistle-blower who blew the lid off this whole episode appeared in front of damian collins and his lawmaker committee he alleged that much of the data harvested on facebook could have been used in the brexit vote here and to influence the brexit vote that is going to see the uk leave the european union

it's absolutely huge it's an explosive story here many are calling the brexit vote a cheat. he said the people on the site to leave the european union cheated in that vote they deny that, cambridge analytica denies the allegations. it's an explosive story. it's being taken extremely seriously here and i heard many stories about people looking and going into the facebook profiles, assessing the data facebook is holding on them and even deleting profiles it's a wake-up call for people about the data being held by these giant tech companies >> arjun kharpal, we'll see you soon thank you very much. after yesterday's big drop for tech, two names that you know still in focus this morning. moody's downgrading tesla's debt further into junk status they cite slipping production rates for the model 3 and continued liquidity issues this all comes as the ntsb opens

a probe into the fatal crash and fire of a tesla model x in california last week. and watch twitter. short-seller andrew left of citron research says he is betting against the company. this comes less than two months after he made a rare bullish call on "closing bell" last night left said the about-face came as a result of the growing scrutiny surrounding social media >> they're obviously doing it. the senate wants to know to what extent it's being done we won't argue it's being done people woke up to the privacy issue last week. it's been longstanding nobody cared about this. going forward i think at these multiples twitter becomes uninvestable until we see what happens and we see changes being made >> calling it uninvestable the stock down over a percent. left also says of all the social media names, twitter is the most vulnerable to privacy

regulation lululemon's fourth quarter results topping forecasts. same-store sales rose 12% helped by a more than 40% jump in online sales and strong growth in europe and ahas lululemon up 6%. big news from the korean peninsula coming up. why china says north korea has agreed to denuclearize the peninsula. a live report coming up. and later, a true high flyer. we'll show you the single best performing stk ock of any major index this year. it's a company i bet you probably have not heard of as we head to break a look at the tech stocks that had the biggest negative impact on the nasdaq's late-day slide yesterday. we're back after this. you know what's awesome? gig-speed internet.

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yes, yes and yes. and don't forget about them. uh huh, sure. still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party. welcome back about to see you after yesterday's big slide we're seeing likely drop in stocks today but don't want to make too much of it. the dow jones has an implied open of down 66 points with the market at 24 how not -- 24,000. the bond market doing something really interesting a lot of people talking about a rise in rates. guess what rates have been backing up ten-year at 2.75 two-year at 2.258. let's talk shoes, sofas and sonic. nike remains the nfl's exclusive

supplier of uniforms and apparel for the foreseeable future after the two signed a long-term contract extension the new deal will start when the current deal expires in 2020. restoration hardware topping earnings expectations but sales at rh came up just shy the pane does say it expects to pivot back to growth late their year. and sonic's second quarter earnings topping forecasts but revenues fell short on a surprise drop in same-store sales. the drive-in fast food chain blames bad weather and aggressive discounting by the competition. this is a huge story saudi arabia making a big bet on solar. the kingdom teaming up with softbank to create the world's biggest solar powered generation product. mohammad bin salman and softbank announcing the deal last night here in new york >> this kind of project has

never been feasible without big vision we share with the crown prince an us the crown prince has already announced vision 2030. he has a great vision. and softbank, we have had a long-term vision these two visions come together. >> when done the project will provide saudi arabia with 200 g gigawatts of solar energy. 70 gigawatts is the largest project in the united states so this is three times bigger than any project here in the united states. that deal is expected to cost 200 billion over the next 12 years.

more to do on "worldwide exchange." including apple's big bet on the classroom. it's unveiling new products and software all in the name of making you more smarter. full details ahead. and must-see video in utah an out of control car slamming into a police officer. we have his comeback story straight ahead ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪

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an apple product when in the clo classroom. the company announcing a new suite of education products including a cheaper version of the ipad let's bring in todd hazelton to talk about this. apple used to own the classroom. all of a sudden it's google this, google this. what is apple doing to get our kids to use an ipad? >> they introduced the new ipad yesterday, the 9.7 inch which we have seen before, now it supports a pencil, has a suite of school apps that teachers can use to assign homework assignments, and administrators can use it to monitor the ipad these are things that microsoft and google have done before and why they are seeing increased market share in the education sector >> is it new or a rework of what they already got

>> it's a rework, it's 329, for students and educators, $299 >> so we would need an i.d we won't get this price, right >> you need the dot edu address. if you're a school buying them in ulk >> that used to be apple's strong point they lost regular market share, but they're strong in the classroom. what happened in the last five years? google got in. >> the chrome is affordable -- >> $250. >> comes with a keyboard, too. the ipad you still have to shell out another $100 so this is still an expensive product. it's the cheapest ipad that now supports the pencil. before the ipad pro, the cheapest one was $650. so they made the cheapest ipad more powerful. >> but the cheapest ipad is still more expensive than a

chrome book which looks like this device. you have to have the internet to run the chrome book. do you think this will work? >> i think it will work a bit for apple. one thing they have is a new suite of tools showing teachers curriculum they can use. pencils, ar. you can dissect a frog using augmented reality instead of a frog on a desk that's a compelling use case that you don't get in something like a chrome book though chrome books are easier to issue out, fix and replace as opposed to going out and buying more ipads >> you know what that is great news for the frog very good news for the frog. >> right >> frog joy. >> they targeted the education sector, where this ipad is interesting for everybody. i think everybody would be interested in a $329 ipad. >> my daughter lahas a dot edu,w

can get the discount. outrage growing over a new question in the 2020 u.s. census, are you a u.s. citizen will appear on the census, and now 12 states are planning on suing the trump administration tracie potts has more. >> those opponents say this question is unconstitutional, unfair an unnecessary. the trump administration says it is absolutely necessary to protect the right to vote. the short form u.s. census that most households get has not asked about citizenship since 1950 the trump administration says it is necessary to enforce the voting rights act. >> it's important we can count citizens of a voting age population the key word there is citizens >> critics say it's political aimed at democratic states with lots of immigrants who may be afraid to answer >> they're trying to scare people this is an intimidation tactic >> 20 states and more than 100

civil rights groups are urging the commerce department to drop the question california is suing. >> if in a census undercount california loses a seat or two or more in congress, it diminishes our voice in our federal government >> an undercount could mean states lose millions for crime fighting, healthcare, transportation, schools, all based on population. >> if a particular child has not been counted in the census, the moneys that would help avoid having large class sizes in our schools, those problems started toopponents fear the citizenship question could lead to an inaccurate count for a decade the commerce department has until saturday to decide whether to keep that question. >> tracie potts, thank you very much. let's check on what's happening outside of the world of business and politics phillip? >> the fbi arrested a suspect in

connection with more than a dozen suspicious packages sent to government sites in and around washington, d.c the 43-year-old was picked up at his home near seattle. the packages contained potentially destructive devices. prosecutors in louisiana say there will be no state charges against two white police officers involved in the 2016 death of alton sterling. the 37-year-old was shot and killed during a struggle with police outside of a convenience store in baton rouge grat irce the attorney general says the investigation found that the officers actions were reasonable and justified. and a utah state troop ser lucky to be alive after being struck by an out of control car. he suffered broken ribs and

scapula. the driver apologized. >> glad that story had a -- i don't want to say happy ending, because he was hurt, but tough guy. he will be okay. >> and he has forgiven the driver as well >> a tough guy good for him. coming up a live update on how the biggest tech stocks are trading after yesterday's late drop and whether your investments can rise even when tech continues to stall. and a cool story on anatomy. scientists think they may have found a new organ in your body and it's been under your nose the entire time.

stocks pointing to another lower open on wall street following yesterday's selloff. a big break through in asia. china says north korea has agreed to denuclearize the korean peninsula we're live in beijing with breaking details and the next big thing for cars wex hitting the road and heading live to the auto show. you're watching "worldwide exchange" on cnbc. ♪ good morning welcome to "worldwide exchange" on cnbc.

thanks for watching from where ever in the world you may be here's how the global markets look now the futures indicating a slight drop at the open the dow is getting better, down about 40 points. yesterday's big slide in the afternoon by tech had everybody watching the markets this morning. we are in the red, but it's not looking too bad now. oddly enough the benchmark ten-year yield is falling, 2.75%. the bond market and yields the story of 2018. overnight in asia, their markets following us, all down europe is lower across the board as well. but some of those losses have mitigated. let's talk more about the markets and your money joining us is the chief u.s. equity strategist for citi last year it didn't matter what happened the market went up it feels like sentiment shifted a bit this year. has it >> yeah. very much so

think of it in this way, 2016 it was all about market multiple. we were paid for the good news of a pro business pro growth agenda people got excited late last year with the tax reform and earnings revisions going higher. as we moved into january, our models are saying we're in euphoria investors are getting too excited. the way to describe it, you're leaning over your skis, okay if you're blues and greens b-- >> keep the metaphor going do we have bumps that could puttoput us out too far over our skis >> i don't think so. i think the change now, is that we're earning our way into the multiple investors are too excited. more eventually they've been too excited on tech. we've seen some of that excitement come off. >> we talked about this earlier. we talked about it for a while

is the market too narrowly focused on 5 or 10 stocks? >> in the dow you had big leaders in aerospace, construction machinery >> boeing. >> or caterpillar. it wasn't all about tech so i think you have to be careful just saying it's about tech more recently the concerns around tech. one sentiment shifts that's occurred is the love fest for tech is having relationship straps t -- strains. is it like a game of jenga, you keep pulling out a block and a block and eventually the tower falls. one rock could be bond rates, taxes in the eu, more competition in the digital advertising space. the knowledge of what's going on in tech in terms of tech demand, cyber, cloud, automation, everybody knows about that that's not new news anymore.

fundamentals are strong but people got too excited >> is there another block we could slide in if people give up on amazon, who knows if they will, let's say they do. is there other stocks and tech sectors, market leadership that can fill that vote and keep the market okay? >> we think financials are a big player >> super volatile. >> but the bond yield is part of that the bond yield coming in does hurt financials. that is people looking for the safe havens. the underlying fundamentals of inflation, they're still pushing that up. we would say financials are a group that can fit the slot. it's not the only area media consumer services are probably more interesting. one other one that's been a laggard and surprisingly so is

energy if you look at the price of energy, oil prices, and you look at the energy price relative to price performance, that divergence we have not seen in a while. it's almost as if energy stocks are pricing $30 oil. >> the last week some of the energy oil names have done okay. will energy be a placeto make money this year for your clients? >> we think so value in general so financials, energy, industrials, materials can fill the gap or the block coming in to support the tower but the tech tower is shaky. >> is boring the new sexy? >> my wife will probably agree >> you too nice too early for this tobias, thank you very much. shares of shyer pharmaceuticals are popping in trading right now. takeda confirmed they are making an approach to shire regarding a possible offer

this is preliminary and at the exmroploratory stage. there are requirements in asia for announcing there are even thoughts of a deal so takeda saying they may be considering making an offer to shire. we'll keep you up to date as that rolls on. a developing story overseas. china saying north korea is open to denuclearizing the korean peninsula. eunice yoon is live in beijing with more. >> thank you very much north korea's leader, kim jong-un traveled to beijing in order to meet with president xi jinpingment but he also had a message for president trump. he said north korea is willing to start a dialogue with the united states. is agreeable to hold a north korea/u.s. summit and is

committed to denuclearizing the korean peninsula the xinhua news agency also quoted kim as saying the issue of denuclearization of the north korea peninsula can be resolved if south korea and the united states respond to our efforts with goodwill. there is also tare a lot of ana believe kim was visiting beijing in order to prepare for meetings, and to confer with chinese officials who have traditionally been his closest allies north korea watchers say that relations between china and north korea have been strained recently because beijing has been adhering more strictly to u.n. sanctions at the same time they believe that beijing is more supportive of these efforts and overtures by kim to reach out to the south

koreans and to the americans in fact in state press today the official papers were praising the meeting calling it historic and a sign that the relationship between china and north korea is unshakable there is widespread speculation for the past couple of days that the north korean leader was here because on sunday there were reports that his special heavily armored bulletproof train had crossed the china/north korean border all of these diplomatic moves are probably a good thing for the markets, but especially in china some north koreaen related stocks got a bump. one was a tourism company and anything with the word kim in it, which in chinese translates as gold, that did very well. >> here's a question because the language is interesting, which is

denuclearizing the korean peninsula. we have to be careful not to say denuclearizing north korea it makes it sound like everybody is denuclearizing. is that correct? >> the language is important but i think also this entire situation is very important. because there are a lot of analysts who have been looking at north korea suspiciously over a number of years. we've seen this type of overctue before where the north koreaens wish to engage with the western world. so most analysts are watching this, maybe with some hope and optimism, but at the same time with a dose of skepticism. >> eunice yoon in beijing, thank you. time for your top trending stories. kate rogers has those.

>> good morning. scientists say they may have discovered a previously unknown human organ. it's a series of connective tissues found throughout the body scientists think a better understanding of this could advance our thinking on cancer and other diseases. the yankees are feuding again, this time it's not with the red sox. the team debuted a machine that can imprint images on beer foam. if you're dreaming of an aaron judge pilsner on opening day, the images run afoul of the mlb's policy of advertising alcoholic beverages. and the dodgers hosted the angels in an exhibition game at dodgers stadium last night it had to be called on account of a massive sewer leak. dodgers pitcher ross stippling

said crappy to end the spring. >> i don't get it. can you clarify that >> it's too early. i'll talk to you after the show. >> that's an unfortunate way to end the game still ahead on "worldwide exchange," we'll take you behind the wheel. automakers gearing up for the new york auto show a slew of new rides making their debut. phil lebeau will give you a live early look at that show. as we head out, a look at the stocks that contributed to the dow drop yesterday boeing contributed 54 points goldman sachs as well.

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visit esd.ny.gov. welcome back if you're just joining us, futuring indicating that yesterday's stock slide could continue those losses have mitigated throughout the morning the dow indicating a drop of 35 points a slight drop at the opening, following yesterday's big drop for technology especially. it's a fantastic week to be a gear head in new york city the new york auto show kicksof and vw is unveiling its latest ride phil lebeau joins us live with more if you hear that beeping in the background, they're doing final set suchsuches -- setups today

last night we got a peek at what the automakers would be unveiling at the show. volkswagen is a company trying to continue its rebound from the emissions scandal of a couple years ago. that means rolling out more suvs this is the atlas cross sport concept. you will see this in showrooms or something close to this in the next year or two it's important for volkswagen, especially in a market that's plateauing that it starts to rev up production of suvs. >> we believe the volume of the industry will stay flat. we are in high volume level already. we believe there will be a horizontal movement going forward that's the great story about volkswagen we are entering with those products in a segment or segments where we have not been in before.

>> he says we will see a surprise from volkswagen later this morning i'm interested in seeing what they show us at that point and cadillac showing its new small suv, the xt4, a compact suv that will go on sale later this year. starting price tag, just under $36,000. don't miss our interview later on today about that. and later this morning, we'll talk with scott keogh, head of audi usa big day here >> i'm jealous you will get to see some of these cool concepts. back to tesla. tesla in the news. what's the latest on tesla >> tesla putting out a blog last night, this is typically how they do it late last night they came out and defended the autopilot system why did they put out these

statements defending the system? the ntsb is now investigating a fatal accident involving a model x suv just outside of san francisco on friday. we talked with the ntsb yesterday, which is sending a couple of investigators to look into this accident specifically what they're looking into is the fire afterwards with the vehicle and efforts to make the vehicle safe before it is removed from the scene. no doubt that there will also be a question or two that the ntsb looks into in terms of could this accident be related to tesla's autopilot system not functioning? again, the ntsb says it is early. these things take about 12, 18 months but tesla defending its autopilot system saying if you look at our logs in terms of how many people use the system on that stretch of highway, about

80,000 times people have been in autopilot mode and there has not been an accident on that stretch of highway outside of san francisco. >> thank you very much still to come on "worldwide exchange," advertisers will they start to unfriend facebook some say it's a big risk to the company and the stock. we'll give you an advertiser's perspective coming up. and we'll show you the single best performing stock in any major index this year. it's probably a company you never heard of it's your rbi of the day "worldwide exchange" will roll on after this.

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synchrony. racing isn't the only and with godaddy, i'm making my ideas real. with godaddy you can get a website to sell online. and it will look good. i made my own way. now it's time to make yours. ♪ everything is working just like it should ♪ "squawk box" is coming up in a couple minutes let's find out what's going on with the show with andrew ross sorkin >> we are taking the pulse of some things today because there's a healthy thing going on are you aware of this? >> i get up at 2:45 now. there's no health thing. >> there is a health thing

it's called healthy returns day. #healthyreturnsday >> hash brown it at this hour. >> scott gottlieb the fda commissioner will be with us craig winter will be with us talking about the future of how long we can live we'll see whether there will be healthy returns in the market. phil lebeau will talk about healthy returns at the auto show >> it's a big day. that's cnbc's huge healthcare event in new york city i did not apply early. i did not get a ticket at some point this week i want to see joe kernen get nothing one of those cryogenic thing, where you get into po secoone oe things, negative 200 degrees >> joe doesn't have an ifb, he

can't hear this. >> i know that that's why i said it >> oh, maybe we should try that in a segment >> where you go in for 30 seconds, get blasted >> it's supposed to be like after the gym, to deal with inflammation i think that's la it i what it . we'll work on that have many healthy returns today. >> we'll see you on "squawk box. thank you. facebook shares down 1% in the latest trade after a 5% drop yesterday. investors have lost more than 50 billion in market cap on facebook since the data scandal broke. that data breach raising concerns about tech giants protecting your privacy and maybe scaring off advertisers. let's talk about it with michael horn from huge inc here's the core question, we see public outrage all the time.

airlines in particular then the airlines say the planes are full do you believe that advertisers will pull off the facebook platform is it just talk? >> the short answer is right now they need that user platform that facebook has. as long as facebook has that scale and reach, they need that but they're guilty of the same things that users are, accepting that blanket agreement without reading it thoroughly. this also applies to the data supply chain >> we have the language which is so key facebook says we don't sell your data they use specific terminology, do they not? what do they sell? >> they're selling audiences they're selling you and your attention. >> hope it's at a discount >> but they have to figure out the balance between the -- saying we don't sell your data to third parties but the whole platform does nothing but monetize your data if you can't tell what a company online is selling, it's you. facebook, twitter, snapchat,

they're nothing -- america, we -- we are the product, are we not? >> we are. data literacy in the eyes of consumers is important we have to be more informed. an important thing this century is knowing what your rights are and the value exchange for giving up information. >> is the facebook platform compelling enough that even with this stuff they'll go in their rooms and say we still have to be on it >> it it offer s an extremely fast path to scale it's a great way to enter this marketplace of audience buying the challenge is they do that without reading the fine print this next evolution and maturation of the industry is for them to become more sophisticated buyers >> when we go on any platform and you scroll down and you hit that agree, do you agree with

these terms, we're agreeing to giving up a lot about ourselves, are we not >> that's true the other question is third party affiliates and apps. that's what facebook is focused on, talking about the abuse of that data access and how they'll fix it >> michael horn, insightful. appreciate you getting up early for us let's wrap it up with your morning rbi. today your rbi is about high fliers, specifically the highest high flyer of the year despite the push back on online information, the single best performing stock of any major index this year is a company called quinn street. who? exactly. a small online marketing company out of california, up 73% this year better than any other stock in all the land congratulations, quinnstreet, you are random but interesting that's it for "worldwide exchange." thanks for watching, "squawk box" is up next.

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you know what's not awesome? gig-speed internet. when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, these houses! yes, yes and yes. and don't forget about them. uh huh, sure. still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party.

yesterday's late day selloff was driven by a drop in chipmakers and tech companies. we'll get you up to speed on the biggest moves. this show does not go on without you. the trump administration -- >> you want to say it together >> me too. >> has struck a new trade agreement with south korea it looks like good news for american automakers. details straight ahead and saudi arabia striking a deal with softbank to build the world's largest solar project.

it's wednesday, march 28, 2018 "squawk box" begins right now. live from new york where business never sleeps, this is "squawk box. >> good morning, everybody welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. >> that's a nice shot. >> not that you could tell it from the background. >> wow >> our flag is gone. missing the flag there is the flag! >> did they just put that in in. >> they did. >> thank you for that. appreciate it. >> i could have one, too >> you can have one, too i'm not supposed to move i have to sit still for this i'm becky quick along with joe kernen and andrew ross sorkin. let's look at u.s. equity futures. we'll see red arrows again after a significant down