i'd be long on this one. >> all right trb. >> i'm weathering the volatility in crowd strike for better and brighter days ahead. >> stock is down 4.5 a little less than that today. >> still good. >> thanks so much for watching what day in the market and plenty more to come on "the exchange" which begins now thank you, scott hi, everybody. i'm kelly evans. here is what's ahead janet yellen says interest rates may need to rise modestly. her comments coming as the nasdaq gets whacked for a third day. we'll have a whole lot more on that fiepfizer seeking approval. this as the company announces a big earnings beat. we'll speak to the ceo exclusively ahead. inflation hits the cereal isle

has clubhouse lost its pull. >> i wontder how many people wil be joining the twitter spaces. spaces are pretty much in the red. the dow is up by one-half percent. the s&p 500 off about 1 and one-third percent. now off 2 %. the 13,511 is an important area to watch that's the 50-day average price. it could be an area of support or battleground to see whether or not the bears can take it below there. we'll watch that level 1.59% is the 50-day average yield for the ten year treasury note you can see wer h're hovering around there right now

we have seen interest rates on the downside as people flock toward the safety of government bonds. it wasn't that long ago we were talking about technology stocks. the reason i say this is these f companies make up 1/5 of the s&p 500. they are a driving force behind that weakness today. we'll see if that trend continues in the afternoon >> that was a perfect little circle there as well

the nasdaq is down for its third day in a row all five megastock tech caps are getting hammered it all comes as treasury secretary janet yellen says rates may have to rise to make sure the economy doesn't over heat let's dig deeper into the sell off now with the chief equity strategist great to have you here can you explain this sort of selling stretch that we have slid into? >> there is some aspect of the fact that may s/october is typically weaker than november to april there's a buy the rumor, sell the fact aspect to earnings. we know the earnings were great. it ran up 27%.

then again, by the rumor, sell the fact, yellen's comments didn't help. the fed has been skating close to the edge of the ice they need to assert at some point that they have independence yellen was sort of lobbying the ball in a lateral to powell by taking some of the heat by saying what's obvious is eventually, if things raelg pick up, the fed has to tighten it could hurt the messaging to powell if the fed claims its objectsive is for the recovery to keep going then excellents like hers could undermine that goal. what do you think is going on here or are we all reading too much into this comment plamade the atlantic

janet yellen knows what she's saying >> you're right. she knows what she's saying. she's trying to give the market some time to digest what is inevitable rising rates. that doesn't mean that's a rising rate that's iminnocent nor does it mean it's a rise in rates that will get to any level that could totally derail either the economic recovery or the stock market we think the market is over reacting to what will be a slower economic growth rate in the second half as well as potentially higher interest rates by assuming that means we might be looking at something like 1970s era inflation potentially stagflation and all those great worries. we think the growth will be well above trend line and we'll see

p/e compression. >> i know you're looking at the resuring of manufacturing names and some water plays, personalized medicine. all those things that should triumph no matter what's going on barry, let me turn back to this particular situation that's playing out with the fed and interest rates the whole point of what the fed is saying it learned from the last cycle is every time it starts talking about raising rates or tightening, they undermine their goals because the financial markets tighten for them you could argue they are achieving their goals. we have interest rates down today where if they spoke the most dovish language on the planet, then interest rates would rise and that's kind of also how you get there self-cooling mechanism acting as a break on the economy there seems to be these two dynamics playing out whether the cause and the effect, i can't quite understand in terms of what they are really tryi ing to ach achieve. s >> chairman powell is up for

reappointment next quarter the fed's independent has never been this much under siege or under threat since the last time we had a massive populist out break in 1930s. it's in their best interest to say, we're going to wait until we have substantial further progress but don't think for a minute for all eternity we'll be this easy. there's a lot of repression froth in the market. i think that's what some of that is being eroded now. >> to make sure i'm following what you're saying, you think

they will tighten sooner than expect and and that's why you're bearish on the markets >> well, i'm saying in the may/october period we have a 5 to 10% correction. i didn't have any doubt about that for a variety of reasons. i wrote a note about that yesterday. it's in the financial press in terms of summaries the other thing is to consider is that i think around jackson hole powell has to signal the taper of the qe. it's become unproductive now it's a the initial step in tightening >> have to leave it there. thank you so much for your time.

alphabet is out and amazon is in now we want to talk some pfizer. the shares are lower today in what jim calls a puzzling move after the company beat on earnings and revenue and raised its full year guidance saying sales continue do be stronger than expected fda is close to authorizing the vaccine for use in children ages 12 to 15 >> thanks so much. you reported q1 results this morning. let's start with what kelly mentioned about jim's comments about the head scratching reaction from your stock to the results. not just the covid vaccine which is blowing expect tags out of the water. you forecast now $26 billion in sales this year.

you developed it in record time during pandemic and grew the rest of the business 8% during first quarter. your stock is flat today what do you think is not resonating with wall street in terms of your business when you look in face of everything you have just done >> when it comes to stock, i think that this is not a sprint, it's marathon. this is not my own quote this is the add viesz that i got when i took over. you need to do the right things. making sure we'll be ready for the next pandemic and the

variants that may escape the protection for vaccine and investing. >> let's talk about vaccinating the world. pfizer said you have manufacturing capacity for up to 2.5 billion doses in 2021. you struck agreemented for 1.6 billion doses. help us think about how to think about that capacity that's not accounted for right now. 900 million doses. if countries don't strike deals, what do you think is the right thing to do. is there an agreement that could be worked out with the world health organization facility 000 do you think about the best way to supply your vaccine to the world this year? >> those doses which are 2.5 billion this year and would be three billion next year or for the whole world and price should not be an obstacle we're giving the doses to fewer

prices. we need to make sure we have enough production for all. this is why we keep i vesting and this is why i feel very comfortable we have these numbers for several reasons. one is that we are having distribution manufacturing networks across the world. for every state, for manufacturing process, i have at least two or three manufacturing sides that are doing it. even if something goes wrong in one, the others could step in. the second is that right now our yields, our processes are so effective they keep increasing the production and the third is quality controls are so good we haven't rejected any single so far or one million doses of 425 million doses that are produced, we're able to release.

i'm very confident that we will have enough doses. >> it's kelly here thanks for joining us. what does the experiences in india and brazil tell you about the efficacy of the vaccine sos and fighting covid there's a lot of speculation the resistance levels should be much higher among the population than they are does it mean because of the vary yantss we're susceptible to getting it again or from the vaccine they still could get it again. how frequently do you think we're going to need booster shots or annual shots? is annual frequently enough at this point what's your latest thinking about this >> first, let's say we should be looking at the data. with the data we have collected so far, there's no barrier we could identify that escapes the protection of our vaccine. even the south african that's

been the one in one. it started in south africa it was not easy for the vaccines to demonstrate it. nevertheless, we are working on new variants because the possibility that one of them will evade the protection for vaccines. we're going to see if we need a specific vaccine or not. it's also used as a regular pathway. if a single vary yiant is identified, we'll be ready from 100 days to that day to have the manufacturing and the regulatory authority. >> albert, it's meg again. india and south africa have

requested that the intellectual property around the vaccines be waivered what is your response to this and whether it could increase the availability of those vaccines and around the world? >> i don't think waiving of the rights will do anything for their about to manufacture they have built fluff. started from scratch both are raw materials as raw materials are coming into manufacturing plants, we are increasing the production. those materials have provide d enough support who are providers of the raw materials which are highly specialized ingredients we feel very comfortable we will do 2.5 by the end of the year. three billion in total next year with the current situation

i don't think any country or company to produce now it's not that we were producing vaccines before. it makes zero sense. >> let me circle back for one second on this issue >> how long should i expect that to last? will it take me through all winter >> it will have strong protection i have made comments publicly that we do expect the booster

likely would be needed somewhere between 6 and 12 months. this is based on all the evidence we have seen collectively but remains to be proven after six months, the number of people getting infection is getting higher over the six months, there is a trend. also the fact about the variants, you need very high responses because those variants have a tendency to create lower and neutralizing factors it's more likely than not. then we flneed to see it

>> you mention you have the six-month follow up data and one of things it allowed you to do is filing for approval of the vaccine. this morning you'll probably do by the end of this month here in the united states. what kind of time line do you expect it might take for the fda to weigh that and for there to be full approval granted and how will that change how we use the vaccine in the u.s do you expect it to lead to more employers mandating it or schools mandating it >> fda will do it in speed that they feel confidentable so they can review the file and this is the right thing to do.

we cannot just give employers or cvs privately or to work with other vaccination sayings or the physicians cannot use it in their practices. it will be driven by government. >> all right >> thanks to you meg for bringing that to us. coming up, it's been a tough week for chip stocks which are selling tough today but my next guest says don't throw in the

towel just yet he tells us why not and how long to hang onto these names one of wall street most prolific deal makers talks to us about buying yahoo, aol and more who's next as we head to break, take a quick look at the s&p 500. more than half is in the red we're back in a moment machin obsession has many names, this is ours. the lexus is. all in on the sports sedan. lease the 2021 is 300 for $369 a month for 36 months. experience amazing, at your lexus dealer.

what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley.

[ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. into strategies for the road ahead. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call... to receive fifty percent off installation. and take advantage of our special offer of no payments for eighteen months.

. welcome back it's ban een a rough week in th chip sector. amd, broadcomm, nvidia are off by 5 to 7 to 8 to 9 percent. joining me is the managing director analyst over at citi. it's great to have you the whole market watching to make sure it's not a bellwether for stocks across the board. what makes you relatively more constructive here? >> the reason people are freaking out is now you had three semicompanies come out and say they will have a below seasonal quarter this follows the heels of three above seasonal quarters.

we don't see any of those classic signs of impending doom. there's still shortages out there. we're still telling inverss to have faith in the stocks >> what would the classic signs of impending doom be that make it this experience now not quite rising to that level >> we publish this -- we call it a top 15 rules of semiconductor investing. number seven talking about the classic signs of impending doom. number one is when the shortages go away, that's when your spider sense starts tingling.

the second case would be the lead times lead time is just how long it takes to get a semiconductor and as you have shortages, those lead times stretch out you have to build inventory. first the shortages stop and the lead time starts to decline. that's when you start hitting the panic button we're not seeing the shortages we feel confident it will be upside going forward >> that's mfascinating. tell us what upside could be worth the risk to only then figure out when to bail. >> sure, that's a question i get. i've this is a momentum space.

these upturns can last a lot longer than you think. i would lez at a time to put a high level to the stocks we look to these specific catalyst like the shortages ending and lead time declining i'd say we're about 20 to 25% upside for our price targets however, if you look at not just my competitors price target, we're about 50% higher than our price targets were even four months ago we don't think there's any reason to get worried about the semi service >> people might eject too early. thanks so much for joining us to make your case we appreciate it >> happy to, any time. coming up, forget the big vegas names. you might want to consider this local stack. the name and what's driving the

momentum kroger and albertsons getting lit with a downgrade at goldman and both for the same reason we'll tell you why and what's in store for the stocks, coming up.

walter, did you know geico could save you hundreds on car insurance and a whole lot more? so what are you waiting for? world's strongest man martins licis to help you break down boxes? arrrggh! what am i gonna do to you box? let me “break it down” for you... arrgggh! you're going down! down to the recycling center! >>hey, thanks martins! yeah, you're welcome. geico. switch today and see all the ways you could save.

at t-mobile we believe you should get more. introducing magenta max. >>hey, thanks martins! yeah, you're welcome. unlimited premium data that can't slow down based on how much smartphone data you use. plus netflix on us and taxes and fees included. only at t-mobile. the leader in 5g welcome back let's get you a check on the markets. the dow is well off its lows the nasdaq a little less so. we're only down 83 the nasdaq we're down more than

400. much deeper sell off in the nasdaq than in the dow take look at some of the recent ipo stocks which are all selling off. you can see the declines are more than 3 and 5% the social stock and dating apps are lower too. let's get to rahel for cnbc news update >> here is what's happening at this hour. use it or lose it. the biden administration says it will send more vaccines to states with high demand and lower allocations for states that are not maxing out their orders now vaccine doses have been di vied up according fopulation shep will speak to vaccination

expert. kevin mccarthy stepping up pressure on liz chaney he says fellow gop congressmen are losing confidence in her ability to do her job. this after chaney trading insults with former president trump. french lawmakers have passe a sweeping bill to address climate change it includes a ban on construction of new airports and expansion of current airports. the bill also seeks to reduce packaging. meghan markle is now a children's book author "the bench" is inspired by her husband and son. the book will be on store shelves next month she said the book was inspired by a poem she wrote for harry. so cute. >> back to you >> have to keep an eye out for that still ahead, apollo global making another billion dollar deal why are they betting on properties that can't seem to find real home

we'll speak with the kco-head of private conequity, next so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. ♪ ♪ ♪

welcome back as deal making picks up, private equity firm apollo global is

buying verizon's media group the latest in a string of billion dollar deals and it's helped stock out perform this year up 11% what value do they see in the likes of yahoo and aol and where are they looking for their next deals in. >> apollo has been one of the most prolific deal makers in 2021 six deals in the first four months of the year the latest being verizon immemedia which owns yahoo and aol the head will join us in a moment i wanted to share a few details in the latest multi-billion dollar deal. apollo earnings jumped 78% during the quarter thanks in part to some recent sales from the private equity portfolio the p/e group sauz 22% appreciation during the first quarter as it works through the nineth fund which is currently putting capital to work in deals like kraft retailer michaels and

the operation of the venetian in las vegas. there's been numerous case studies written about the value destruction in yahoo and aol since the internet bubble days now the question becomes what's apollo's vision for this acquisition that others failed to see let's ask the man in charge of it david, thank you so much for joining us today >> thanks a lot for having me on >> it looks like from conversations you had about this deal that you're looking to move past such a strong reliance on advertising and focusing on other areas, particularly as it relates to the yahoo sports franchise and yahoo finance

franchise. can you help explain that to us? >> yeah, sure. this is an iconic set of assets about the yahoo branded properties and even the aol branded properties it's a business with tremendous scale. 900 million monthly active users. one of the biggest internet properties in the world today. you're right they advertise mainly through banner heads which had very low monetization the opportunity is to take some of these great properties like yahoo finance, yahoo sports, news, mail and aol and continue to innovate and continue to invest, to grow revenue streams beyond just typical banner heads. one other thing i'll say is they already started to do there a little bit the business really does have some strong momentum under the leadership of the ceo and verizon with their stewardship they rose double digit top line

growth fundamentals are all there we do see a pivot opportunity that does have some execution w risk but we're pretty excited about it >> i read part of the plan has to do with finding some way to monotize yahoo sports from a sports gambling point. can you explain a bit more about your thinking there and then as you talk about execution risk, what are some of the big hurdles that you expect to face in kind of transforming those business models >> i think when you think about all these big properties with their big user bases, they have a lot of loyalty they have a lot of users the opportunity is really entrepreneurs. for us, as an owner only focused

on yahoo, we could afford to take the time and spend the money to invest, looking the value of some of these real iconic companies and whether it's getting into financial technology products, broker jjage, crypto trading, subscription products. i think for verizon, they're a 240 billion dollar public company. you can understand why they might not have wanted the go down that route, we will be able to make the decisions and i think you'll see a lot of innovation >> in order to pay for those investments, you have to cut costs. a lot of people when they hear

private equity firm buying media business, they think immediately job cuts other types of cuts. is that something you're planning as well >> no one has ever cut their way fros prosperity the good news is it's very profitable and produces a lot of cash flow. i think the real opportunity is allocating capital we have a lot of experience making these decisions another brand we bought which is a pretty interesting case study where we took the hostess brand and rejuvenated it and grew it a lot an introduced new products >> we will be watching closely thank you so much. it's a new high for etherereum and the clubhouse

down load drop it's all ahead in rapid fire we're back in a moment machine plap

new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet.

oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! . hi, everybody. welcome back let's catch you up on a couple of stories it's time for "rapid fire. joining me are julia, bob and courtney welcome everybody. first topic, move over bitcoin dogecoin and ethereum are hitting highs. it's up 344% the s&p launched the s&p bitcoin index. and s&p megacap index. what do you make of it >> i'll say that eventually, i think ethereum will be more valuable than bitcoin.

bitcoin is just a cr cryptocurrency ethereum is smart finance. using ethereum as a smart contract you can use it to transfer reareal estate you can do it to transfer ownership of stocks. you can use it to send money over seas. it's a lot more versatversatile. i think people are starting to figure that out. >> bob, with the big call. i'm going to be checking your twitter feed >> it's block chain. it realized the true potential of block chain which is a means answering the question how do i know i own anything a big problem throughout the whole history of mankind and ethereum can be used for a lot of different ways to answer that

question >> courtney, it has its flaws. i don't know enough about it i know the critics say it has anti-network effects it has high transaction cost and security issues. this is the irony of a lot of these places >> i know. it's that so interesting just when i think i'm starting to understand it, someone else throws out an argument ma that i can -- makes me question it all over again the block chain is attached to bitcoin. i know they sort of work hand in hand doge coin, that one is still just makes me feel silly it just seems irresponsible. it started with this dog meme. i spent a lot of time trying to understand it and then i was more confused when i was done trying to figure it out.

i don't know >> it's at 58 cents today. everybody who remembers when it was a penny, that tells you just how extended this crypto move is getting. goldman is downgrading kroger shares to sell today rising costs from inflation. they have lowered price targets on both stocks opinion they prefer albertsons because of smaller exposure and cheaper stock price, both names are lower. kroger is down about 4% but posting gains so far this career bob, your comments >> what's happening here is all the positive trends from last year will reverse. the work from home is not going to work add well here. the competitive landscape will get worse in new jersey and pennsylvania aldi has opened up here. we have amazon we're going back to same old problems the supermarkets have had. intense competition that's only getting worse and now we have the additional problems with the higher cost.

we haven't talked about the higher labor costs wait until you get -- these are unionized shops here you'll have a lot of problems in near future. >> julia, what would you add >> i would say that we're up against some tough comparisons with a year ago period people were buying a ton of groceries and keeping them at home you have the fact as people get out and about more, they will be eating more out. they're not going to be cooking and eating every single meal at home you'll see the grocery stores have to reckon when the fact people might be buying hundred mp when they are out at their office something they never did a year ago. >> raise your land if you own a rumba here two out of three bob with the old school approach the maker is sink today.

it's down more than 10%. this is after result it beat first quarter estimates. the it has to carefully manage spending in order to deal with rising costs from raw materials. the chip shortage showing up everywhere these days. >> he's very smart but you have to train him to move around. it's not one you're going to buy over and over. maybe as you stay at home, work out from home, you look around and see dirt and dust a little bit more maybe that was a pull forward demand now people are getting out of the house again. poor robeot gets backed into th corner we feel more comfortable letting the housekeeper back in. i can see some worries going forward for i robot. >> julia, you have a robot >> i do. we call him fred

we turn him on when the house looks dirty, which is quite frequently we invested in rumba we don't need to buy another one. we also infest vest invested in pel peleton. they saw a benefit from the pandemic i think they are only so many rumba's you can buy. >> real quick, bob >> i don't have a rumba named fred i have a broom named gladys. this stock was up 200% last year it was one of the biggest winners of the work from home trade. now the momentum guys look at this they look at the report and say there's nothing else here really you can use component cost as an excuse but please, it's been up 200% and it's about time it's paying back. >> we're starting to separate the permanently higher plateau

stocks from the pandemic hangover stocks and irobot may be in the latter what about clubhouse this was this meme going around how nobody uses clubhouse. after hitting nine million down loads two months ago, less than a million people signed up in april. signed up in april, and we know that twitter and apple, of course, are making big moves into the space what do you think, julia >> february was a month of spectacular growth for clubhouse, over 9 million people showed up. that growth slowed down dramatically what's interesting is they say the people who have downloaded clubhouse and signed up for it, are still engaging with the platform there's strong retention, but the growth has just fallen offer a cliff. the question to me, is that decline in the growth rate due to the fact that people are leaving their houses again, going to restaurants, maybe even

going to movies that they didn't before, so they had more time to engage in clubhouse, or do you have twitter spaces where you can engage without opening up a separate app twitter has the advantage you're already on twitter and you start listening instead of reading that feed. so i think those are the two things to watch. we'll see whether they reverse trends >> courtney? >> you know, i have never been on clubhouse for a while i felt like i'm missing out. maybite not anymore. julia is seeing if you're already on it, you're still engaging if i'm going to take time to listen to something, it's probably a podcast because i'm not commutic right now and also now running as much as i probably should be, i'm not listen to go podcasts, either. >> i just got back in the car, obviously, a couple weeks ago and i'm back -- it's so nice, bob, to be able to listen to all

this content again about how to discipline toddlers. go ahead. >> that's a good way to look at it i'm with corti clubhouse interferes with my time playing super marios, because i'm a cutting-edge kind of guy but about the podcasts, five years ago there were 500,000 podcasts in the united states. not 500,000 listeners, 500,000 podcasts today there's over 2 million podcasts everything that's popular gets absorbed in pop culture. it's going to happen with things like clubhouse they're all doing competitions, so it's a natural kind of evolution to see it have a little trouble. >> i think it will be tough for clubhouse to maintain its exclusive status. >> thank you all the business casino in sports betting names are sinking today. that could be an opportunity to get more local

the underthe rarad gaming plays that are on a tear, in a moment.

what happens when we welcome change? we can make emergency medicine possible at 40,000 feet. instead of burning our past for power, we can harness the energy of the tiny electron. we can create new ways to connect. rethinking how we communicate to be more inclusive than ever. with app, cloud and anywhere workspace solutions, vmware helps companies navigate change. faster. vmware. welcome change.

welcome back casinos depend on gambling they are blowing mast analyst expectations, in part because the recovery has rapidly accelerated, and a lot of people are moving in from florida it brother -- 256 million you can see there. best march ever. the handful of analysts all have a buy rating, same with tiny golden and red rock, better known as station casinos, is almost completely reliant on the nevada crowd. it's a big draw for the retires. house prices are soaring, construction is booming firms and a great indicate to get -- actual cash flowing, not just multiple

that does it before they exchange fedex is working to get -- as covid ravages india. we'll -- we'll have more after this quick break on "power lunch. makes it brilliant.gy, the visionary lexus nx. lease the 2021 nx 300 for $349 a month for 36 months. experience amazing, at your lexus dealer. with a bang, lease the 2021 nx 300 for $349 a month for 36 months. energy and change came to every part of our universe. seismic or small, it continues. change is all around us. shaped by technology and human ingenuity, we can make it work for you and your business.

that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it.

hi, everybody. welcome to "power lunch. i i'm kelly evans alongside jon fortt this afternoon the nasdaq by far the worst performer. it was at one point down 400, still a decline of about 346 points >> when you look at some of the groups within tech, you can see where the selling is chips are down, cloud stocks getting crushed. even the solar stocks fall sharply. now, let's kick things off with bob pisani for more of the names movie today. secretary yellen thinks it interest rates will have to rise