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morgan brennan, jon fort tech names are slumping, twitter down almost 3% today below the 200 for the first time in a year tech dragged lower with concerns of new regulations from washington one bright spot for the sector joining us at post 9, long time tech investor. great to have you here, jay. welcome. >> glad to be here. >> nasdaq on pace for the worst week since march i wonder what's coming together to make that happen. >> it is important from my perspective, you guys have a show every day dealing with traders. i don't think technology is an easy place to trade stocks we're long term focused. one thing i can say with great

authority is underlying fundamentals of technology are strong devices get better, faster, cheaper. entrepreneurs figure out ways to take advantage and disrupt industries or create new ones. you'll have periods of weakness in the stock market. >> why is it hard to trade >> i think it is robust area the spoils are enormous. most valuable tech companies in the world are technology companies. there are thousands of technology companies that don't achieve that greatness it is an area of small number of huge winners, a lot of losers. you see companies often stumble. it creates trading that's a short term phenomenon there's a lot of noise in the

marketplace and people get distracted by short term events rather than long term. >> why is it a short term? seems like there's fears or nervousness of greater regulation on the companies. you don't think that's going to happen >> i'm no expert on regulation i would say a couple of things i think it is really, really, really complex i heard people on the show pontificate here's what should happen, and i think there's likely to be some level of regulation it will be hard to dial it in in a precise way that makes left and right happy, one example then investors are emotional i will also say some companies you mention, amazon, alphabet, apple are up by huge amounts today. periods of pull back are to be expected.

>> i look at some of the stocks down the most this morning, micron, lam research, docu sign, don't have a lot to do with regulation, i don't know if it is a risk off thing happening. i onder, you're kind of long term in a way that's even unusual for early stage investors. i wonder what you think during this period would be the defining characteristic of the next mega company. there's talk of artificial intelligence, advantage in big data is that it how should we look at the companies and figure out who has the advantage? >> i spend time on consumer businesses whole different set of variables. on the consumer side we look for basically for simple things to identify as what we look for, hard to figure out who is what first is unique value prop you go way back to netflix and dvds, provide great value, convenience, enormous selection.

that's unique, sustainable value product. and engagement, average facebook user over an hour a day. many gaming companies have several hours of average usage engage the consumer in a way it is repetitive, habitual. third is virtuous cycle which is hard to anticipate is there something about the business that creates a flywheel, prevents competition from encroaching, and creates competitive modes. and lastly is a visionary ceo that hires great people, executes superbly. that's hard to tell ahead of time i will say again perhaps using facebook as an example, despite the current pressure, they executed enormously well over their life, including public life, while others perhaps with similar opportunity, not trying to bash anybody, but like snapchat had a bigger execution

challenge. one is worth 500 billion and one this morning worth around 12 >> snap below 10 for the first time i wonder if you saw talking the long term anything yesterday that makes you think something structural will change either with the level of trust users have or the cost it is going to take and friction that will take place in moving content through their pipe those are long term stories. >> again, i'm not a regulatory expert i sin i cannily viewed a lot of yesterday as political theater there are important issues, but the hearings themselves, i expect some level of regulation. gdpr in europe has been implemented, and ironically it appears that google and facebook may in fact because of capabilities be advantaged by that as opposed to disadvantaged, and perhaps smaller companies will be disadvantaged. >> do you think there's blow

back for google, given what played out yesterday and they didn't send their ceo? >> in terms of press coverage there is blow back i don't know if you're ceo of google, weighing constituencies and demands on your time i don't know why they didn't show i assume they had a good, valid reason perhaps this morning wish they attended it was a pleasant session to sit through probably. >> you mention early advantage you saw in netflix which is totally different from its value proposition now. arguably it is stronger now, but when you look at that stock which has done extremely well. valuation is quite high. what is the bull case for netflix from here? is it based on the original content? is it based on loyalty that users have and other things netflix can offer them

>> i am not speaking as an official board member but personal observer. netflix was the first to create an over the top service. wasn't known as over the top originally launched it in early 2007. the focus from inception to now is make sure you have incredibly happy consumer subscriber base, and you can see it through viewing habit. if you see increases in viewing, that's likely to mean subscribers retain, et cetera. early on lean heavily in content spend to get subscribers, to expend more on content to get more subscribers that i think is their virtuous cycle. as long as they continue to focus on taking care of their own business, not necessarily worrying about others, i think they stand in good standing. the wealth of content, you have to quit your job to watch all that's on netflix. i know headlines often like to

play david against goliath in the content world, but i think that great content is forthcoming from multiple parties. and the overwhelming wave, tail wind helping the over the top venders is displacement of cable, broadband replacement, millions of homes, many of whom never heard of cable, apologies to my host of course, and that's a big opportunity to go after. >> you don't think it is a content bubble >> quite the contrary. i think this is -- you step back, there's an explosion of types of content, many shows, many document trearies that woud not have seen light of day there's great stimulation in the creative community resulting in tremendous stuff, not some sort of bubble. >> i want thoughts on you're

investment zillow it is the ten year anniversary of fanny and freddie going into conservati conservatorship. we have seen the stock sell off on heels of news, do you think it is a good idea? >> it is driven by the focus on what are the consumer needs and the research the company did as relates to buying homes, a seller wants certainty of being able to sell the home at a fixed price and therefore go on to buy the next home. it is early days for zillow in pursuing that. but really is responding to consumer need. >> we could talk about some of your board seats or investments for an hour. we're not going to keep you for the hour appreciate you coming in hope you'll come back. >> thank you i could talk about companies i

am lucky to be involved with forever. >> thank you for your time. when we come back, future of cbs hanging in the balance as they talk about an exit of leslie moonves what it means for the company and relationship with viacom. nfl kickoff tonight. nike debuting the latest ad with colin kaepernick t "squawk alley" back in a moment. with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. fidelity. here's a trip tip: when you search hotels on tripadvisor... enter your destination and the dates of your stay. tripadvisor searches over 200 booking sites... to find the best deal on the right hotel for you. tripadvisor. (guard) i've seen things unnatural things.

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snchts welco-- welcome back a new ad featuring colin kaepernick is set to run during the first game tonight eric chemi joins me. >> the eagles and falcons kickoff the nfl season on nbc tonight. you're going to see that nike ad, controversial, features colin kaepernick who hasn't played in the league in almost two years now because of his national anthem stance, kneeling during the anthem. he hasn't played he is at the forefront of the ad campaign that's one of the headaches the nfl is trying to get away from over the off season, the league and players couldn't come to an agreement. we'll have to see what happens are there players with some protest, not kneeling, putting up a fist, who knows people are watching that another thing to watch for, this season falls during midterm

elections, the first elections since president trump took office i think we all know the republicans are using this topic, national anthem topic, to drive a wedge between their voters and those not voting. a topic the nfl doesn't want to highlight. the ad with kaepernick will cause a lot on the good and bad camp that's the big story, separate from what we see on the actual field after kickoff at 8:20. back to you. >> lots of political hay to be made on these issues and cbs in focus and david faber is reporting the board is in deep settlement talks with ceo leslie moonves, in what would result in his departure from the company. joining us now, first president of nbc cable, former chief strategist at nbc and former tivo ceo, now executive chairman

at wynnview. we have been through this period,seemed like les moonves was trying to hold onto his legacy at cbs. he has done so much there. now this prospect of his exit amid controversy about his treatment of women and all those kinds of allegations, what does this mean in your view for the future of cbs and viacom >> having talked to one of cbs' major investors over the weekend, i think this result was expected, assuming david's reporting is correct, which it almost always is >> talking about that almost >> investors may not necessarily have wanted this result but i think it is the result they expected joe knows cbs intimately, was

cfo a long time, voted the number one cfo among analysts, became coo, and is overseeing some of the tougher parts of the business, including retransmission consent and revenues coming in from affiliates which has been the key in a lot of ways to cbs outperforming expectations of the broadcast network. so it is a tough thing les has been one of the most successful media executives in history, but obviously this is something people expected that the controversy and drama couldn't go on as a distraction for the company much longer. >> what happens to digital and over the top efforts cbs has been aggressive there with their app, all access, creating original programming for that that's high quality do they need someone with a specific skill set in that arena to drive that forward or do they

try to get another les moonves, if there were such a person? >> well, it is going to be tough to get another les moonves with the intuition about what works by way of programming and network television when it comes to the first issue you have been talking about, how to navigate the world of direct to consumer streaming and make sure cbs is participating in that, both in terms of their cbs offering and showtime, they're outperforming expectations there. and payments, retransmission consent from cable operators and payments from affiliates have also outperformed. so they have people with the right skill set there. i think the bigger issue for cbs, i have never thought that viacom transaction could go through since the special board committee voted that down and i don't think there's any move here with or without les, with

or without what happens in the delaware court that is going to change that result if the viacom merger isn't going to happen, and it looks increasingly unlikely a faang company will come forward and acquire cbs, what does a stand-alone media company as well as navigating tough waters, facing ratings decline and issues that traditional media companies are facing, what does it do to secure its future more than anything what they need is a visionary able to solve that problem. >> interesting tom rogers, deep knowledge of the industry very helpful great to have you. thanks >> thanks for having me. coming up, fears of a trade war continue as some of the bigge biggest ports look to be hit by president trump's deal tariffs jackie deangeles is in new orleans for a closer look.

>> reporter: morgan, that's right. u.s. port revenues represent about 25% of gdp here in new orleans, shipping volumes are down because of the tariffs. we're going to give you impact on the ports, supply chain, and overall jobs as well, when "squawk alley" com bk.esac ♪ hawaii is in the middle of the pacific ocean. we're the most isolated population on the planet. ♪ hawaii is the first state in the u.s. to have 100% renewable energy goal. we're a very small electric utility. but, if we don't make this move we're going to have changes in our environment, and have a negative impact to hawaii's economy. ♪ verizon provided us a solution using smart sensors on their network that lets us collect near real time data on our power grid. (colton) this technology is helping us integrate rooftop solar, which is a very important element of getting us to our renewable energy goals.

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let's get to dominic chu for the european close. >> jon, the european markets are pulling back like ours, lingering concern about tariffs on china, that trade discussion. basic resources among the worst performing groups, down 2%, weighed down by trade fears as well on the macro front, you have brexit negotiations, following comments from the german government it is ready for all scenarios, including possible no deal british pound jumped in the previous session, following a report that the uk and germany

dropped. among other names in focus, drug and chemicals giant bayer, shares falling more than 3% after missing on earnings, cutting the full year profit outlook. they have seen lawsuits from plaintiffs across the u.s. as of late august, up 700 since last month alone you can see lots of red in europe back to you. >> dom chu at hq. president trump's trade war continues as some cities are feeling the pain steel tariffs are causing pain at the port of new orleans jackie deangeles is in new orleans for a closer look, hey, jackie. >> reporter: hey, morgan, the conversation is alive and well at the ports, there are certainly a lot of concerns.

in new orleans, $50 billion plus of imports come into this port according to a 2016 study. and the port says it has seen in the first six months of the year a 25% decline in steel imports as a result of tariffs, adding aluminum, you get to roughly 30%. and it is not just steel per se or this port specifically either in milwaukee it is agriculture exports. in mobile, alabama, steel and agriculture. here in new orleans, they're watching and concerned about poultry and pork this goes even a step further. there's another domino effect on infrastructure think of it this way not only are you bringing in less steel, revenues go down, but also the price of steel is going up this port has to invest in infrastructure it uses steel. revenues are going down, the prices of input cost are going up, and it makes planning very, very difficult it makes those projects very difficult to carry out as well

take this one step further, impacts the overall supply chain as well. ports are about 25% of u.s. gdp. you're talking not just about activity here, talking barges, rails, trucking, manufacturing, too. 23 million jobs depend on revenues that come into and out of u.s. ports as well. here in new orleans they say they're not making plans to layoff workers yet, but are keeping projections conservative because there are so many unknowns and they don't know what to expect in the back half of the year and next year. it is not a total gloom and doom picture. there are certain aspects of the business offsetting some of the lesser ones where revenues are less the cruise ship behind me, the cruise business is pretty strong new orleans says that's helping balance things out, guys back to you. >> thanks for breaking that down, especially that one, two

punch around steel tariffs in places like new orleans. hope you got to eat good food there as well. let's get to sue herera for a news update. >> good morning, morgan and everyone here's what's happening at this hour we have more on the shooting in downtown cincinnati. four people are dead, including the gunman no officers were injured, but there are no details who the shooter is or the motive it is unclear whether an officer killed the suspect or the suspect committed suicide. south korea says it has forwarded a message from president trump to north korean leader kim jong-un he in turn gave seoul officials a message to deliver to trump this week. the two sides met in pyongyang wednesday. a landslide burying homes in h japan. the quake triggered a blackout over a wide area and apparently there are a number of fatalities. a wildfire in northern

california continuing to spread after growing out of control wednesday. the delta fire burning north of redding growing to 5,000 acres in six hours it is zero percent contained the forest service says it was caused by humans that's the news this hour. back to "squawk alley. jon, back to you. >> thank you, sue. coming up, facebook and twitter shares reacting to cheryl sandberg and jack dorsey's testimony the doj raises possibility of investigation. cbs in talks with les moonves over an exit package after the allegations and accusations of sexual misconduct we'll bring you the details. "squawk alley" back after this brea k. you always pay your insurance on time.

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welcome back to "squawk alley. let's get to the story of the day, david faber's reporting on cbs which happened after 9:00 a.m. eastern time david? >> trying to advance the story at this point. what we can continue to tell you, the board of cbs is still deep in settlement talks with the company's long time ceo leslie moonves it would result in his exit of the company. the appointment of the coo as interim ceo. the talks between moonves and board have been going on for some time. yet to reach conclusion. timing hard to tell, could be soon, but unclear.

there's a low temperature t of his package would be the board sno the board is not willing to step up to that number, close to a $100 million package made up of largely cbs stock, this may be a key contention to call back some of the compensation if at the conclusion of an on-going investigation into charges of sexual harassment moonves has been found to have committed over inappropriate acts. as was widely reported yesterday, cbs and controlling shareholder national amusements are negotiating a settlement on whether they can dilute the voting power of national amusements possible the settlement with moonves and between cbs and national amusements could be announced at the same time, sources say now they're not

linked cbs officials declined to comment. it has been one month since we read, many people read the story from ronan farrow in the new yorker where he had six women alleging inappropriate behavior by mr. moonves he was not suspended pending beginning of investigation by two well known law firms into the charges, and into the broader allegations of culture at cbs and at cbs news and since then i am told mr. moonves has been very focused on his own future, not nearly as involved in day to day goings on as has been the case for an executive that's long been lauded for his ability to pick programming and be an incredible programmer, and deal with many of the key decisions that need to be made at a company like cbs ianniello has been there a long time, the sell of radio and key transis a sort of revenue,

decision to cut off time warner, he was also very involved in interesting to see how his appointment is taken i am told interim could become permanent. depends what the board thinks over time. the board is expected to be expanded if they reach that settlement with national amusements. >> potential settlement of $100 million, less than the original pay package, still quite a chunk of change, for a ceo that's been lauded as the man who led a turnaround for the company stock up almost 2% today is that because it alleviates some of the uncertainty? >> if you're the board, you want a clear path, settlement with nai, and this is reporting in the journal, would force them to back off forcing a merger with viacom the leadership has long been

sought after by many investors but you would give a clear path, new board or expanded board, new ceo, no threat of being forced to do a deal they don't want to do >> any color on what he may do after? transition to production role? >> remains to be seen. i think we also need to wait and see what the results of the investigation find it is unclear when that's going to wrap up they originally hoped to conclude prior to october 3rd, pending date for litigation to commence in delaware still there, but they may get a settlement key will be what the investigation finds. >> stock's been adding all day, up almost 2% thanks, david. coming up, sell off on social continues after a tough day yesterday. look at twitter. below 200. more on the other side of the

break with the dow down 41 oh, i'm sorry. are you joining me conventional wisdom, lead to convention alc conventional conclusions that's what we're talking about after the break.

coming up top of the hour, we debate whether the upset in tech is more than a few days' phenomenon the sector coming off the worst

day since end of july. we are miekd up with mike francesa and revealing the ultimate portfolio at noon. about 20 away. see you then >> sounds good, scott. see you then. justice department planning to meet with state attorneys general to discuss whether social media platforms are intentionally stifling the free exchange of ideas. yesterday's senate hearing, mark warner, intelligence committee top democrat said i'm skeptical that ultimately you'll be able to truly address this challenge on your own. congress is going to have to take action here can regulation transform these powerful tech companies? joining us, scott gallaway, thanks for joining us. scott, i want to start with you. you were on "power lunch"

yesterday, talked about potential of no regulation of companies from lawmakers one of the things you mentioned, maybe it takes the doj to step in here. given news we have that the doj is looking to convene a meeting, what do you think? >> well, i am sort of never shocked at d.c. snatching from the jaws of victory. the most elegant way to do this, be pro-competition, not pro-government with regulation antitrust in my view has never not worked it would be great for the economy. and then they say but we also need to look at how they are stifling free speech that's wrong that's a plain dumb argument the focus will be there. and it will mess up the whole thing. if they were going right after anti-competitive monopolistic

behavior, i think they would have a shot. instead, everyone will be focused on a partisan, ill informed, nondata supported issue around whether conservative voices are being restricted on social media which just isn't true. i think it will create a side show and the doj efforts will probably fall flat that's my fear. >> your thoughts on this, given the testimony on the hill yesterday and the upcoming meeting from doj do you think regulation is coming for the companies and what do you think it needs to look like? >> i think it takes three forms. first, i would characterize the doj comments as more popcorn than substance which means it will be an area of discussion, not going to result much in activity two, i viewed the hearing yesterday to prioritize up the ladder industry self regulation. i think you'll see more activity on fake accounts, on ethical guardrails for artificial intelligence and new models of

consumer transparency that don't need new regulations, need the industry to get their act together senator warner set the stage by saying get your act together or we have to intervene last but not least, an important note that the federal trade commission has been asked to look at google's search algorithms again if you recall, the ftc during the obama administration had a similar evaluation and it was a close call as to whether or not the search algorithms inherently had competitive bias i would pay attention to how the ftc will revisit that issue as an existing regulation that gets exercised based on new facts or new commissioners. >> aneesh, i can't help but feel there's no regulation looming that's going to change the competitive dynamic for these companies. everybody is talking about we need some regulation, expect it to be coming sheryl sandberg saying it is not a whether we are regulated

>> let me give you an example. on the issue of fake accounts, imagine if the industry reached consensus that you had to verify the individual before you set up a social media account, akin to banking regulations on know your customer the industry could reach a consensus to do something like that and could establish policies that say well, if you have a verified account, you get to have potential posts go viral if they choose those that are unverified until reached. there may be industry standards for bots and fake accounts that would make a meaningful difference in the way you and i consume social media, doesn't require new regulation but consensus that is enforceable by agencies like the federal trade commission. >> scott, looking at a stock board of social media companies. once again, you look at alphabet, google's parent company, it is down but down

second day in a row, not as much at twitter or facebook, but lawmakers slammed google for not sending their ceo. >> yeah. >> are investors shrugging off what's coming for google or do you think there's blow back here >> a little bit, but i think it is short term. it is hard to look at the stocks and on traditional metrics with the exception of amazon, not look at them and say they're good buying opportunities. yesterday had the best and worst brand moves by companies in 2018 and the worst brand move was google decision not to send somebody that picture of the empty statement, why does google not send anybody, the answer is simple, 93 when you have 93% market share, basically they said we're busier than the senate. that's a bad brand wrap. >> what was the best >> hands down, nike's decision to make colin kaepernick the face of the 30th anniversary

-- going off script now. they did the math, $35 billion in revenue, 20 billion overseas. no one overseas thinks america handles race issues well two-thirds of customers under the age of 40 tend to -- they put one to two billion at risk to strengthen relationships with $33 million. the gangster genius brand move of 2018. sorry for the digression >> that's a story too. >> we'll leave it on that note thanks for joining us today. let's get over to the cme and get the santelli exchange. hey, rick. >> hi, carl. being down here for so many years, you get caught up in the minutia of the markets i love that. that's what i thrive on. outside this building, many kind of can't get into all of the details and they end up with conventional wisdom. there's nothing wrong with that.

especially if you have to work, pay the mortgage the problem is sometimes the big conventional wisdom leads to big conclusions that are not accurate in the long term. but the time frame is so long, it is hard to go back and think we were wrong on that. it flows along like aging. you look in the mirror, don't see yourself aging yesterday, we had a trade deficit that jumped up most in a couple of years, especially with regard to china. just like conventional wisdom, there's a conventi conventional conclusion. since we are in a trade skirmish, that taints how we look at it let's pull it out, look at what we have left imports skyrocketing, exports down 1%. as we learned today at 8:30 eastern and 10:00 eastern when we had data points, whether it was durable goods or factory orders, the numbers really were impressive when you pulled out aircraft, exports, aircraft did

d distort it the point is what we are really looking at, the u.s. is humming along. this veteran is in fourth gear, on the expressway, plenty of rpms and gear shifts does that mean you don't hit a pothole now and again, have to swerve because of an animal in the road, of course. there's always thinks going on in the end, i'm not sure the trade skirmish is making that much difference. it is hard to draw that conclusion at this point now, the other thing is this ties in to another issue globalism. divergence, and pete is a sharp one. doesn't think the u.s. economy can grow well if the rest of the world isn't, which is kind of what the trade deficit tells you. to that, i quote one of my favorite bands top band is zz top second favorite is the eagles.

check out anytime you like but you can never leave. is that what globalism has turned us into the hotel california morgan, back to you. >> rick santelli, thank you for that lots of metaphors there. quick programming note, an interview you don't want to miss sara eisen sits down with the new ceo of mondelez come with tough food, your dentures may slip and fall. new fixodent ultra-max hold gives you the strongest hold ever to lock your dentures. so now you can eat tough food without worry. fixodent and forget it.

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series d round, led by t row price. the data focus startup accounts, airbnb and microsoft as customers. jennifer, great to have you. i want to get into why this is pagerduty's moment pushing out the most essential data to people that need it. is that the secret sauce, how does this fit into the clouded data driven era we're in >> you have that right pagerduty is a platform for action we consume signals and information from every tech stock, every device in an

organization, and help it teams and developers identify, triage, resolve issues and incidents before they impact the consumer experience every company on the planet is digitizing, the veranda experience is a digital experience as a result, consumers are becoming impatient used to give you six minutes to load an app or deliver a delightful experience, now it is six seconds or less. when something goes wrong, the consumer quits what pagerduty enables it and developer teams to do is react quickly and effectively to disruptions caused by an increasingly complex technology environment but also predict and prevent incidents from happening before they cause a business impact we're sort of the eyes and ears. yes, go ahead. >> i wanted to ask, drilling down on that, you have insight into what types of features customers are demanding, use for

big data and real time information that are coming to the fore what do you see emerging as the type of data customers need to have in hand most quickly now? >> i think behavioral information, how teams respond, the operational health of the technology environment inside of business which services and applications work well, which don't what's costing money, what's driving revenue, what isn't. and which work flow, how do certain teams operate more productively than other teams. these are important data points. you could only understand it in real time in a micro moment or a second moment of truth when you need to get it right for the consumer if you're collecting data on hundreds of thousands of people, work flows they use and millions of events and incidents that transact in any given day in a business. >> jennifer, i would imagine looking at the list of some of your customers, i imagine cyber

security is a big part of that, it has been getting attention. a number of folks talking about the need to continue beefing up cyber security how do you keep the customer data and information safe? >> that's a great question and super important to us. we built a highly resilient, secure, reliable platform that transacts more technology events and incidents and information than any other platform in the market and it is our job to make sure our customers' data is secure, work flows are secure and help them detect anomalies or issues that may be early indicators are a potential security issue it is not static, you have to constantly pay attention to what's going on in cyberspace and the cyber market and it is a challenge for every single company in the world now, whether you're a small start up getting up and running or large

organization like estee lauder >> jennifer, i want your thoughts on a conversation we have been having increasingly as more companies look to do things like gender parody 50% of your engineer leadership is female and 50% of the company leadership team is female. is that intentional or did you set out to do that >> there was nothing coincidental about that. we set a goal early in my tenure to set the example of how an inclusive, diverse work force can deliver better than average performance and outstanding outcomes we had to make a lot of operational changes, including ensuring half of every candidate slate is diverse opposed to one person, making sure every job in the business job for job is paid for equally, and that starts with research and assessment and on-going maintenance, and ensuring senior leaders from all different diverse backgrounds and ethnicities and genders set

an example, create a great culture for people to work in. sometimes means recruiting takes longer, means you have to look in less conventional places, have to build a culture inviting to people of different backgrounds. so we are unique there are not many female ceos in the cloud computing industry, not a lot of gender balanced teams, but we want to reflect our customer base and future of the tech industry, not the past. >> we appreciate you joining us. >> thank you very much for having me. as we go to break, take a look at the markets. dow trimming losses. and the s & p and nasdaq are aiming at restig ds the rahtay down back in a moment

washington digging into silicon valley tech giants >> jon, the amount twitter and facebook will have to invest to improve platform safety weighing on the stocks. twitter shares losing another 4.5% after losing 6% yesterday, jack dorsey faced accusation of bias against conservatives, and facebook shares off 2.5% after

falling 2% yesterday all of this dragging down the sector snap shares losing a little more than 2% to another 52 week low after dropping 4.5% yesterday. alphabet shares dipped after declining invitation to the senate intel committee yesterday. back to you. >> what a week it has been, julia. thank you. i am scott wapner. tech under pressure today, with several of the sector's biggest stars falling, is it gut check time for what's been the best trade in the market? it is 12 noon. this is the halftime report. >> tech takes a hit with the chips causing concern. a big call on two of the biggest players in the oil patch see the stocks in joe terranova's floep.