(888) 710-0554. >> a wall. >> street. >> rout, $1 trillion. >> in tech. >> gone in one day. concerns over policy and fears of a recession driving a selloff that's wiped out $4 trillion since the market peak. >> just last month. >> even the. >> world's richest. >> people are certainly not immune. >> today. >> the search. >> for. >> something to put the. >> brakes on all. >> this selling. it's 5 a.m. and you're watching worldwide exchange right. >> here. >> on cnbc. good morning. >> thanks so. much for being. >> here with us. >> i am frank holland. today we're going to. >> try to make.

>> sense of this market for you. >> we have former new york. >> fed and treasury. >> official chris hodge on the. >> economy and all of this recession talk. and on. >> a day when tech lost. >> $1 trillion. >> yes. >> $1 trillion. one of the biggest tech bulls on the street. of course. >> that's. >> wedbush's dan ives. >> he's here with us. and we're going. >> to talk about the one thing. >> when it comes. >> to. >> the tech trade that's concerning him. and of course, we're. >> going. >> to look at the impact on all of this on your money. we begin with the markets and the nasdaq, again, coming off its worst day in more than two years, losing more than $1 trillion in value. hard to believe. but take a. >> look right here at the futures. seeing a. >> bit of a rebound. right now. >> we're. >> seeing the futures in the green. >> across the board. the dow looks like it. >> would open up just about. >> 150 points higher. >> i want. >> to take a look at the leaders on the s&p 500. taking a look right here at the top of the list. we're seeing the ticker mma mid-america apartments. right now. those shares up more than 5% getting an upgrade. we're looking. >> for some. >> other news on this. but it is the. >> leader in the. >> s&p in the. >> in the premarket right now tesla a bit of a bounce back. we're going to talk more about tesla moving up just about 4.25%. >> pool corp. >> ingersoll rand and moderna rounding out the top five. the

other side of the coin. >> the. >> laggards this morning taking a look at those. you see it right here at the top of the list. delta airlines falling just about 10%. seeing other travel related stocks. also trading lower in sympathy. delta airlines out with a warning about profit. >> the fact that it's. >> going to expecting to miss. a lot. of estimates when it comes to. >> profit as. >> you're seeing travel slowdown for both the consumer and also for business customers. taking a look also at what a lot of people call wall street's fear gauge. >> that's the. >> vix taking a look. the vix coming in right now at about 27. if you're. looking here you're seeing a big spike recently the vix up about 1013 points since the inauguration. it's giving you a sense of the sentiment on wall street since the inauguration of donald trump. we also want to look at the tech trade. it just continues to unwind mag seven members falling between 2 and 5% yesterday. >> taking a look these. >> are the yesterday moves right here. you're seeing meta falling more than 4%. apple down almost 5%. nvidia down more than 5% tesla. we were just talking about a bit of a rebound after it. fell more than 15% yesterday. hardest hit of all the mag seven. the steepest drop

for the ev maker in. >> five years. >> huge decline when it comes. >> to tesla. >> and this morning obviously we're looking at the how the mag seven is shaping up in the premarket. again seeing a bit of a rebound. apple still fractionally lower. we're seeing meta up about a half a percent. amazon up nearly a half a percent. similar story for alphabet as well. a bit of a rebound again. but as we. just mentioned, a lot of these companies lower yesterday. microsoft up about a quarter percent. nvidia another big bounce back up just about 1.5%. so last night on mad money jim cramer telling investors it may not be a good idea to sit on the sidelines when we're talking about the mag seven. >> i would not jump back into the magnificent seven because as of tonight, there is no mag seven came up with that name, scrapping it right now, no moniker fits the 2 or 3 that remain viable, and i'm not going to put it. and there's nothing magnificent about tesla or nvidia. >> all right. you heard it from jim cramer himself right there. coming up we're going to have wedbush's dan ives with a whole lot more in the tech tree. we're going to really dig into it. but right now we're going to take a quick look at the airlines. we

just mentioned delta with the warning take a look at airlines overall in the premarket trading lower again. delta airlines biggest laggard on the s&p 500 down about 10%. american united southwest alaska all of them falling. alaska down more than 5% as well. i want to do a quick check of financials. if you remember if you're checking the calendar yesterday, the two year anniversary of the svb crisis this morning, we're seeing some kind of mixed moves when it comes to financials. the kbe pulling back about three quarters of 1%. different story for the regional banks up over three quarters of 1%. kind of inverse moves right there. jp morgan up about a half a percent. citigroup up just about a half a percent as well. and we want to. check the bond market taking a look at yields in the bond market. we've seen them kind of tick up. right now we're seeing the benchmark actually at 4.2. so falling back a few basis points. perhaps some concerns about growth in the economy. recession fears. we're going to talk about that a lot more coming up in just a second. i also want to take a look at the price of gold. of course, gold has been a safe haven trade this morning. we're seeing gold prices up just about a half a percent year to date, gold up

over 10%, and a quick check of cryptocurrency. we've seen cryptocurrency under a whole lot of pressure in recent days. this morning we're seeing bitcoin a bit of a rebound. it actually fell below 80,000 a coin yesterday moving up just about three and a third percent. we're seeing ether up just about 3%. solana up just about 5%. and a quick. >> check of. >> oil this morning taking a look at the energy markets again seeing a bit of a rebound. oil prices up about a half a percent. we're talking wti and brant crude. but we have seen oil under quite a bit of pressure. both of them under a key sentiment level of 70 bucks a barrel. natural gas just pulling back very fractionally right now okay. that is your setup. let's now see how europe and asia are shaping up. our julianna bonds live in london with a look at the early action. julianna. good morning frank. >> good morning. well, we're actually seeing some signs of stabilization here in europe. yesterday, the stoxx 600 pulled off more than 1%, but that was obviously modest compared to the selling we saw on wall street. now today at the headline level stoxx 600 roughly flat. but when you look under the cover we are

seeing some divergence in terms of the sectors. so here's a look for you at the sectors that are gaining today in europe. we'll put those on your screens there. you've got out in front some demand for basic resources. autos also doing well. after we heard from volkswagen chemicals and industrials also doing fairly well this morning. on the downside in sympathy with the sell off you're seeing in u.s. airlines premarket. we are seeing heavy selling in european airlines. so travel and leisure is the worst performing basket of stocks in europe this morning. looking at the asian markets overnight we saw mixed trade there. but the majority of asian markets did close lower. the exception being the shanghai composite in mainland china that closed 4/10 of a percent higher, but red on the board for the japanese, the hang seng in hong kong and the korean markets. frank. >> all right, giuliana, thank you very much. julianna tatelbaum live in our london newsroom. all right. turning back to the u.s. markets. wall street's worst day of the year. it's certainly given investors just a bit of indigestion. but as our bob pisani notes, there

are some signals flashing that the markets they they could they could be through the worst of this washout, at least in the short term. >> the market bounced off the lows in the last 50 minutes of trading. so is that a tradable low. the cboe volatility index or the vix as we call it, spiked to 29 on an intraday basis. that's the highest level since august of last year. but more importantly, the vix curve that is the prices of near-term vix options is now in backwardation. that is the price of near term contracts. the march contract for example, is now higher than options contracts further out in april, in may and in june. that's very unusual. and it indicates very high levels of short term fear. in the past, this has been associated with at least a short term tradable bottom. now i say short term tradable because the market fears have now morphed beyond tariffs to include a wider economic slowdown. when these kinds of concerns surface, it's very difficult to actually call

the bottom. all we can say is that the market moves ahead of any slowdown in a true economic downturn. there are usually additional legs down in the future as analysts adjust their earnings estimates downward in response to ceo commentary. now, whether this is a true economic downturn we are experiencing now or the depth of the downturn is still not clear. back to you. >> all right. >> let's talk much more. >> about this latest case of fear and loathing in the market. and whether, as bob says, it could be a sign of a near-term bottom. joining me now is alan mcknight, chief investment officer at regions wealth management, and patrick armstrong, cio at plurimi wealth. good morning, gentlemen. great to have you both here. alan, if you don't mind, i'm going to begin this conversation with you. what do you make of what bob was talking about right there, the bounce yesterday. do you believe that we did hit a bottom in the market? if so, what do we do from here? >> i think. >> we're going to bounce around these levels right now. i think the market is still trying to digest all this information. or as we've been thinking about it,

it's been in. >> everything. >> everywhere, all at once type of situation where between trade policy, immigration policy and the geopolitical outlook, investors are really not sure where to turn. and so i think we're going to bounce around these levels. we could see it going down a little bit lower, but i think it will start to get its feet underneath it as we get earnings coming out for the first quarter. >> patrick, same question for you. how do you see this market. do you do you believe we may have hit a bottom or at least a short term bottom right now of course, there's a lot of headline risk in this market from the administration. also a lot of concerns about inflation. >> we the question. >> is may. and it's definitely. >> we. >> may have. >> hit a bottom, but it's going to be. >> dependent on trump's. >> policies from here. >> a lot of us have been. >> expecting that trump's trade tariffs. >> trade wars were opening gambits to create some leverage. >> for a. >> future negotiation. >> he's been pushing back against that belief. if he does continue to. >> push back. >> and we do get into a trade war, i think there is another leg down in. >> this. >> market because that creates a stagflationary. >> environment that's. >> toxic for equities, toxic.

>> for bonds. >> my view is still he's trying to create leverage, trying. >> to get a good trade deals in place. but for that leverage to be effective, the rhetoric has to be believable. >> and i. >> think that's the. >> point we're at. right now. >> you know, patrick, that's a very interesting point. certainly a lot of concerns about both recession and stagflation. but i do want to ask you what could not be priced into this market? i mean, we know the president. i've often said he's mercurial. he seems to change his mind about things. and also he has people in his administration that that put out and float ideas that sometimes he confirms and doesn't confirm. isn't that uncertainty already priced into this market? what do you think could move us a leg lower? >> exactly. >> if uncertainty is. >> priced right. >> now and. >> the economy and the stock. >> market is built on confidence, confidence, you know what rules. >> you're. >> going to. play by. >> when you put the us-mexico-canada free trade. that was a ten year deal that was. put in place. and now. that seems to be pulled back. so the automakers don't know where they're going to. invest their. capital and confidence is key. and right now that's what it is. it's a crisis. >> of.

>> confidence on uncertainty. but the leg down will be driven by policy that really has teeth. so right now people are worried about that. >> policy potentially coming. >> into place. that's hurting confidence if it is put in place. i think. >> there's real economic impacts. >> that. >> would create another leg down. >> all right. so alan, coming back over to you right now, you're saying right now investors are looking for de-risk portfolios. i got to ask you what's de-risked right now in this environment it seems like every part of the market is being hit by this uncertainty. and also the tariff concerns and. >> the inflation concerns. >> i think the best. >> way to. >> play it has been the ability. >> to allocate to fixed income. what we've seen year to date is that investors have been moving out of equities into. fixed income, and we think that's going to continue. and really the opportunity here is that you're clipping a coupon now that 3 or 4 years ago you didn't have. and another other than that i think within equities i think utilizing health care i think having com services, which has held up relatively well compared to tech, will also get you there as well as utilities. and the bottom line for us is that markets are going to go up and down like this. you should

expect this type of volatility. it just feels really tough at the time. >> wait wait wait alan you. >> should expect. >> this type of volatility i mean $1 trillion wiped out in one day. and if you're someone who's expecting it then how do you play it. how do you take advantage of the volatility. because of course when some people are losing money, there are other people who are who are making money and winning. >> well. >> you're spot on, frank. and the reality is, if you look back over 100 years, you should expect a 10% downdraft once a year and three 5% downdrafts each year, and a 20% downdraft every three years. so this is normal, if you will, you know, quote unquote normal for the markets. but it doesn't feel great at the time. and so i think as you look at your portfolio, being diversified is the key component of that. so as you're feeling the downdraft in consumer discretionary, as you're seeing some of the pain come through in tech, you still have holdings in utilities, you have holdings in the financials and in energy that are a ballast, if you will. and then also utilization of international developed from a from a full diversification

perspective as well as fixed income. >> all right. we got to get going. but i want to ask you we're talking utilities and energy. is that a dividend play. or do you think those those sectors rebound in this upcoming year after kind of underperforming last year? >> i think. >> the utilities are one they're going to continue to do well. they're more of a growth story. for the first time in probably my entire career. and on the energy front, i think we're going to continue to see wti stabilize. i think you get the dividend play while also waiting for growth to stabilize. >> all right. we got to leave the conversation there. alan and patrick, thank you both very much. great to have you both here on a day like this. have a good day. all right. a lot more to come here on worldwide exchange a whole lot more to come, including former new york fed and treasury official chris hodge on the economy and all the recession talk that has fueled this wall street rout. his view on where the economy really stands. and on a day when tech lost $1 trillion, one of the biggest tech bulls on the street. dan ives, he's right here in studio. he's going to tell us the one thing when it comes to the tech trade that worries even him. plus your morning's big money movers and what delta's ceo is telling cnbc

about concerns around customer demand, that stock under a whole lot of pressure ahead of the open. the worst performer in the premarket on the s&p down more than 10%. a very busy hour still ahead when worldwide exchange returns. stay with us. >> if you're shopping for a home, you could browse hundreds of listings to find homes with big yards or compare lot sizes all at once. search in. full color to find space to grow. home search will never be the same again. >> selling a car. >> is a big deal. >> you've had. >> some big moments. >> okay. >> and some wrong turns. >> but when you're ready to sell, car gurus is a big help. >> get multiple. >> offers instantly. >> offers instantly. >> so you. (grandpa) i'm the richest guy in the world. (man 1) i have time to give. (man 2) i have people i can count on.

(grandma) and a million stories to share. (vo) the key to being rich is knowing what counts. matt meyer the strategy to keep delaware america's incorporation king. plus, how changes in washington are impacting his state. stay ahead of the market. squawk box today, 6 a.m. eastern. cnbc. don't miss a members only event. >> we make sure that club members get the access they need to make more informed decisions. >> join the cnbc investing club to access jim's monthly watch golf from the best seat in the house with xfinity. from the tee to the green, catch every pivotal moment of the players championship in crystal clear enhanced 4k. find tee times, tour your favorite holes and see live leaderboards and scorecards. and with xfinity multiview, never miss a moment. watch up to 4 live events at once. brought to you by comcast business,

proud partner of the players. just say “the players championship” into your xfinity voice remote. >> buy. and measure tv ads. >> all right. welcome back to worldwide exchange. quick check on momentum stocks like stocks powering the market over the last year and their performance since president trump took office. you can see palantir shares still holding on to some of their gains up more than 6%. but vistra energy big i power play pulling back more than 35%.

walmart down about 5%. broadcom pulling back more than 20%. checking those same names in the premarket. right now you're seeing palantir shares up about a quarter of a percent. vistra those shares up just about one and three quarters of 1%. broadcom pulling up just about 1% right now. all right. looking at the manufacturing sector now xometry shares are more than 20% higher over the last year. but they fallen more than 20% since earnings where the on demand marketplace for industrial parts and components beat on the top and the bottom line. but gave guidance that was just a bit below expectations. xometry customers include bmw, dell, general electric, bosch and many other global manufacturing companies. joining us now to discuss manufacturing and the impact of tariffs is xometry ceo, randy altshuler. randy, good morning. great to have you back in here. >> thanks so much for having me, frank. >> all right. so, randy, i got to talk to you. do you think tariffs do you think that's what's hitting your stock? i mean up 20% over the last year but 20% since earnings. we're generally you had a strong report. >> i don't know. >> look as you said we had record 2024. >> we had.

>> a record q4 in 24. and in q1 we got it to accelerated growth. >> and for. >> 2025, we got it to accelerated growth. we talked about in our earnings call, we're seeing strong demand. we're going to be solidly adjusted ebitda positive this year. so all these positive trends. >> all right. so you had earnings a couple of weeks ago. the analyst they asked you about tariffs and you answered but i don't know if your opinions changed. i do want. >> to hit this. >> about 84% of your revenue comes from the us. obviously 16% comes from outside the us. and you have about 43 4343, 4375 active suppliers. sure. so i got to ask, how is how are tariffs hitting your business? how are they hitting your customers outside the us. how are they your customers in the us. what percentage of your suppliers are outside the us. i mean how are tariffs. how is that going to impact this whole dynamic. >> sure. >> and again, just to say, you know, we've seen increased demand this year. but american customers are enterprise customers. and that that segment grew 40% with us last year. they're leaning on technology. they have to ensure that their goods can be delivered. so they're looking for technology solutions to ensure that happens in the marketplace. with our

thousands of manufacturers spread out across the united states is a powerful solution for them. >> but i got to ask you, and i don't mean to be specific about your customers. i know you can't talk about individual customers, but let's say i'm a i'm a german automaker. and we showed your customer list a short time ago. sure. are they saying to you, we need to source these parts from europe because we're worried about tariffs or we're worried about reciprocal tariffs and things like that. when we're looking at some of the us companies that you work with, are they saying we need to source everything from the us now on because we're just worried about uncertainty when it comes to tariffs? >> we're definitely seeing a trend towards reshoring. we just did a poll this quarter with zogby and the majority of manufacturing ceos saying they're leaning into reshoring. we're seeing the same thing globally. so we're building. and that's the great thing about our marketplace. we have 18 local marketplaces. so we give customers the ability to source locally. and then we also give them cross-border options as well. >> so also give them cross-border options. recently we had the jobs report showed 10,000 manufacturing jobs created. i know you're talking to your customers a lot. do they believe that? nearshoring onshoring is that accelerated due to these trump policies in

your mind, is this a sign that we're already seeing that happen, that 10,000 job increase? >> i think there's definitely an upward trend of manufacturing here in the united states. we're seeing a lot of innovation in the hardware space. so we talked about case studies and medical devices and aerospace and consumer goods. so people are iterating faster and faster in their hardware. they're trying to get their goods to market. we're seeing a lot of innovation here in the united states that's good for american manufacturing. >> all right, randy alschuler, thank you so much for coming in. it's always great to see you. always appreciate your insight on the manufacturing sector. we got to have you back. it's something we're going to continue to follow, especially how us businesses and just global businesses are sourcing. so please let's stay in touch. >> thank you so much. >> great to have you on a day like this. thank you. all right. still on deck here on worldwide exchange. your morning's big money movers and some whipsaw action around oracle. look at this chart. details on what has investors selling the tech giant. you can see shares are giant. you can see shares are down just about 1.5%. ♪ empower ♪ so handsome. oh, i can't buy this. hang on there. actually, you can.

your empower investment account has performed well. and this whole off-white-ish cantaloupe thingy is really working for you. so... so...? so... (♪♪) hot to trot! nobody says that, what? get good at money. so you can be a little bad. empower. [announcement call] final boarding call. i didn't use agentforce, the powerful ai from salesforce, so an ai agent didn't send me the fastest route to my gate, which has changed. [airport bus engine] [whistling] i'll tell the pilot to hold the plane. they've got an app for that, dude! agentforce helps heathrow create a first-class experience. agentforce. it's what ai was meant to be.

college. >> in america. by the. >> princeton review. employers value. hpa's real world preparation. >> students love. >> unprecedented access to global leaders. >> on high points, inspiring campus, and parents appreciate hpa's. >> god, family. and country values. choose to be. >> extraordinary at high point university. >> if you're looking for the one. find the. home with a short commute to work. >> find the one in. >> a great school district and find it. exclusively in professionally. >> sourced listings. download the. >> realtor.com app today. >> from home.

>> when you finally decide to >> when you finally decide to take care what does a good investment opportunity look like? at t. rowe price we let curiosity light the way. asking smart questions about opportunities like ai. and how the industries born to support ai might better support us all. better questions. better outcomes. >> and welcome back to worldwide exchange. time now for your big money movers. to start off with shares of oracle. you can see they're pulling back just about 1.5%. whipsaw session for shares on the back of earnings falling short of estimates. the company

also issuing a forecast that fell below street expectations. oracle's board also authorizing a 25% increase in the dividend to $0.50 a share. again, shares pulling back just about 1.5%. shares of delta airlines continuing to pull back after slashing its earnings outlook on weaker demand here in the us. ceo ed bastian hitting on the factors behind that move while speaking to cnbc yesterday. >> we saw companies start to. >> pull. >> back in terms of corporate spending started to stall, consumer spending started to stall, largely domestic, largely in the close in, but it was also exacerbated, as you know, the uncertainty that's out there. and consumers in a discretionary business do not like uncertainty. >> and shares of asana plunging after ceo dustin moskovitz announced his retirement from the software company. you can see shares are down more than 26%. moskovitz, one of the co-founders of facebook, says he will transition to a chair role once a new ceo is found. and a quick check on the dow transports also the iyt

transportation etf, both of them underperforming the s&p 500 since the election. after a brief pop on enthusiasm that the trump administration policies would break the two year great recession. you can see the downside moves. dow transports down just about 8%. sitting out with a note yesterday saying the pain may actually be deeper than it looks, citing that the average decline for stocks in its coverage is roughly about 26%. you know, bear market territory. a quick check of some notable stocks more than 20% off their high. you can see ups well off well, more than 20% off its high. fedex its rival in the same boat. knight-swift transportation. the biggest trucker in the u.s. similar story old dominion one of the biggest less than truckload truckers in a similar boat. uber shares kind of approaching that down just about 15% right now. all right. coming up here on worldwide exchange, we've got a lot more going to continue to cover the sell off. also finding protection as recession fears continue to hammer the markets the sector. our next guest says is high on her shopping list despite yesterday's pullback. we'll have that and much more right after this break. stay

with us. >> total energy. >> has been hunting. >> for the best entrepreneurs across africa. to tackle energy poverty. >> farmers are highly dependent. >> on rainfall, but. >> water is. >> scarce with drought. our solution is mobile solar containers for off grid farmers, which uses ai to make irrigation more efficient. >> being an. >> entrepreneur is. >> not an easy task. >> you have to have faith that a door will open. >> ubuntu means unity. >> this is how we're going to fight climate change together. >> i use every man, jack. so you still smell good. >> pressure doesn't. >> fall down a mountain. >> but you. still smell good. >> every man jack aluminum free deodorant. >> with many. >> naturally derived ingredient. so you can die for. seven seconds. >> but you still. >> smell good. >> if you're shopping for a. home realtor. com's real. >> commute tool. >> lets you find homes close to work, school, even grandma's house. >> don't all apps. >> do that? >> ♪♪

for all those making it big out there... ...shouldn't your mobile service be able to keep up with you? get wifi speeds up to a gig at home and on the go. introducing powerboost, only from xfinity mobile. now that's big. try xfinity mobile for a year! get an unlimited 5g mobile line included with your xfinity internet, plus a free 5g phone. comcast business doesn't just power the connectivity of the pga tour. we help turn it into a... weather-obsessing... ...automated-turf-tending... ...long-drive-tabulating... ticketless-ticketing... ...multi-shot-tracking... ...up to the millimeter-spotting... birdie-putt-obsessing... ...contactless-cocktailing... ...swag-securing...

...every-angle-covering... will billy be a-winning? easy, rich. no, jinxing. ...tee shot mashing... absolutely thrilling... hey tom watson ...global-broadcast- orchestrating... ...must-watch, game-changing golf experience. leading connectivity & networking. advanced fiber solutions. expert partnership. powering the connectivity of the pga tour. comcast business. ads.com. >> i'd just be very wary, joe. >> of. >> conversations about recession. >> or not. >> given that. >> we had two negative. >> quarters that. >> used to be a recession under biden, and then that. >> wasn't a. >> recession, i think that what's going to happen is the first quarter is going to squeak into the positive category, and then the second quarter is going to take off as everybody sees the. reality of the tax cuts.

>> that was national economic council director kevin hassett on squawk box yesterday, downplaying the recession, fears that just continue to rattle investor confidence. and of course, the markets the s&p 500 has now shed $4 trillion since its peak last month, as president trump shows no signs of letting up in his global trade war. welcome back to worldwide exchange. i'm frank colin. coming up this half an hour, we're going to talk to one former fed and treasury official on whether the market's fears are justified, and to get ideas on how you can protect your portfolio. but first, we begin with the markets and the nasdaq coming off its worst day in more than two years, losing $1 trillion in value. taking a look at futures, you're seeing a bit of a bounce back in the green across the board. the dow looks like it would open up about 130 points higher, roughly about a quarter of a percent. the s&p up just about over a third under a half a percent. the nasdaq the best performer, up just around a half a percent. about 112 points right now. want to take a look at the nasdaq 100 leaders in the premarket? taking a look. you're seeing strategy right here at the top of the list. as we've seen bitcoin bounce back a bit i

fell below 80 bucks a coin yesterday. but you're seeing it's moving higher this morning. we're going to hit that in a second tesla also bouncing back after a huge decline yesterday. asml ptt holdings and amd rounding out your top performers in the premarket. we got to look at the other side of the coin the nasdaq 100 laggards. the other side here you're seeing a lot of travel names here. booking holdings the biggest laggard after that. delta profit warning booking holdings falling back more than 4.5% mongodb, airbnb, constellation energy and monster. also rounding out your bottom five. the worst performers on the nasdaq 100 in the premarket. more on that textile off with wedbush's dan ives coming up in just a moment. but first a quick check of the vix. right now you're seeing the vix come in at about 27. huge uptick right here when we're talking about fear and concerns about volatility in the market. the vix up just about 10 or 13 points since the inauguration. if you're looking at the moves since that data point. also you want to take a quick check of the airlines. as we mentioned the delta airlines actually the worst performer in the s&p in the premarket. you can see those shares pulling back just about

11% right now. other airlines moving lower in sympathy. delta warning about a slowdown when it comes to both consumer and business spending. looking across you're seeing united airlines also pulling back nearly 8%. alaska down more than 5%. and a check of financials if you if you were looking at the calendar yesterday, the two year anniversary of the svb crisis, we saw financials move lower this morning. a bit of a rebound. right now, if you're looking at the at the broader financial sector seeing a pullback right now. the kbe etf one that we very closely follow. pulling back more than three quarters of 1%. but look at this. regional banks actually rebounding quite a bit up more than 1% in the premarket jp morgan chase shares up over a half a percent right now. and we want to check the bond market this morning looking at treasuries, the benchmark coming in at 4.2%. actually pulling back a few basis points. maybe some growth concerns, recession concerns, pulling back as investors move into the ten year for safety. and also we look at another safety trade this morning. gold taking a look at gold. gold moving higher this morning. again it is a safety play. gold moving up about a half a percent year to date.

gold moving up more than 10%. and we got to take a look at crypto. we just mentioned cryptocurrencies bouncing back a bit. bitcoin fell below $80 a coin yesterday. right now trading at about 81,500 up just about 3.5%. taking a look you're also seeing solana move up just about 4.5%. litecoin muted move only up about a half a percent and a check of oil. important thing to note here is that oil is still below 70 bucks a barre. when we're looking at wti and brant crude. but a bit of a rebound here. both of them up just about two thirds of 1% right now in the premarket. all right. that is your setup. now we want to turn back to the story. everybody is talking about the markets and how the trump administration is downplaying the market's ongoing slide over mounting recession fears, suggesting the recent moves by business leaders indicates a brighter a brighter outlook for the us economy. but since president trump took office, u.s. markets are now down between 3 and 11%. you can see the dow is down more than 3%, the nasdaq down more than 11% along with the small caps. joining us now, chris hodge,

natixis chief economist of the u.s. he's also a former member of the treasury department and the federal reserve bank of new york. good morning, chris. thank you so much for joining us. >> great to be. >> with you, frank. >> so, chris, i mean, let's start off with the number one question on everybody's mind. do you think that we're headed towards a recession or just a major slowdown, or is this just near-term volatility due to tariff concerns and the administration's economic policy kind of winding its way through? >> yeah, i think markets are right to be fearful, but they should. >> be comforted. >> by the fact that structurally, the economic the. >> economy is still in pretty good shape, both consumer. >> balance sheets. >> and business balance sheets. >> are still. >> pretty solid. >> you know, credit spreads are still pretty tight. banks continue to lend. >> but i. >> think it's important. >> to note. >> that the differences between. >> now and. >> from trump. >> trump's first term. >> are pretty significant. >> and trump's. >> first term, he took over at the bottom of. >> the business cycle. we're now at the top of the business cycle with growth. close to 3% last

year. so growth was set. >> to slow anyway. then when you come in. >> with this. >> policy uncertainty that we have. >> when you have very high tariffs threatened. >> and. >> then implemented. >> and then. >> delayed. >> there's a. >> considerable amount. of policy angst in the business community right now that's going to. slow investment overall. so i. >> would. >> say that the animal. >> spirits that. people hoped. for coming into. >> the trump administration. >> are now. >> being eclipsed. by policy risks. so within. >> an economy. >> that was. >> already slowing. >> chris, i think you may have mastered understatement angst. it seems like it's quite a bit more than that. i want to go back to yesterday. we heard from ed bastian from delta airlines talking about a slowdown when it comes to business spending and also just general consumer spending. i know you're saying that the data points show that the economy is generally strong, but those are generally backwards looking. at what point i want to have you kind of put your former treasury hat on and fed hat on. at what point do fed officials start looking at the fact that business leaders aren't hiring the same way as

they were before? they've lost some confidence in the economy, and we're getting these kind of warnings, whether it be from the ceo of target, talking about prices are going up or the ceo of delta airlines, one of the most notable airlines, saying spending has significantly slowed down. >> yeah. so the soft data that you're. >> talking about. has tended to drift downward. >> but. >> you know, powell said. on friday before. >> the blackout. >> period. >> that those soft indicators. >> have been a little bit misleading. >> over the past couple of years. so given the amount of policy. uncertainty that we. >> have, the. >> fact that. >> tariffs would increase. >> inflation and inflation. >> is already above. >> target, we have a labor. market that's holding in there. right now. which leads me to believe that the fed is going to. >> be very. >> hesitant to engage. >> in preemptive cuts. >> i think they're going to have to see economic pain. >> before they end up easing. >> policy policy rates. >> all right. chris hodge, thank you so much for joining us. really appreciate your time and your insight. >> thank you. >> brian, good. >> to be with you. >> all right. let's now dig into

how investors should position themselves during the ongoing volatility. joining us now megan hsu. she's the executive vice president and head of investment strategy at wilmington trust. megan good morning. great to have you here as well. >> thanks for having me. >> all right, megan, simple question. what now? what now? on a day like this, after a huge sell off. what should you do? what should you not do in your mind? >> well, you. >> might not. >> like my answer. >> it might not be the most exciting, but i would say investors should just be patient. and not. >> be trying. >> to make a. >> whole. >> lot of changes in the portfolio. this is a very. >> very difficult market. to be trading. we had. one of. >> the worst days. >> in a very. long time yesterday. it looks like. this morning we're going to open with. >> a little bit more relief on the screen. >> we're getting a lot of signals that. >> there is. >> panic in the market, whether. >> it's the. >> vix that you. >> mentioned or. >> the aapi bear sentiment index. actually, the way that those readings are trending, it's looking a little bit more

like a buying opportunity than a selling opportunity. and i think in these moments we have to remember that these corrections do. not feel good. they never do. we always want that buying. opportunity and. >> that. >> pullback in the market. >> so that we can add. >> all right megan. >> it never. >> feels good. >> at that moment i got to interrupt on this one i understand that you're saying be patient. but i think it was warren buffett that says, you know, be fearful when people are greedy and be greedy when people are fearful. people seem to be pretty fearful. this. yeah. shouldn't you be looking for some opportunities? i don't know if it's necessarily, you know, you buy huge dips maybe, but aren't there some opportunities in this market? i mean, aren't there some places you should put money, even if it's just bonds? >> there are. and i would say for people who have cash on. >> the. >> sidelines, who have been maybe waiting to. deploy that into the market, absolutely. >> you're getting some good opportunities. >> where you're getting some good opportunities in the tech. >> part of the market. >> i think the chips, we. >> would expect. them every few. >> years, they tend to experience a 25. >> to. >> 50% correction.

>> and we're not there yet. but you're not going. >> to be able to time the bottom. >> i think the ai story. >> is still intact. so i think that's a good opportunity to maybe get in at better prices. i also like the banks. >> i we do. >> not. expect a recession. >> and i think that we're going to have fed rate. >> cuts later this year. steeper yield curve. the banks. >> are very well. capitalized and i think deal activity could help as well for the. >> money center banks. so you have to pick your spots. >> i would stay. >> up in quality. >> i would. >> also stay up in size. i wouldn't be doing a whole. >> lot in small. >> cap. right now. i think that could have a little. >> bit more. >> to go. >> especially because even. >> absent a recession. >> we expect. >> a little. bit of a slowdown. >> in the economy. >> yeah. to your point about small caps down more than 11% off their 52 week high. megan shoe, great to have you here. thank you very much. >> thank you. >> all right. coming up. consumer discretionary has taken a beating lately. our contessa brewer has some names to watch. coming up next looking at some of those right now. draftkings. those shares are up actually about a half a percent. but other travel names pulling back quite a bit. viking pulling back quite a bit. viking pulling back more than two and three quarter ♪♪

[inner monologue] we're sitting ducks. waiting for them to infiltrate our defenses. millions of tries... and... they're in. uh-oh... this one's in the code. ♪♪ if you're shopping for a home, you. could browse hundreds of listings to find homes with big yards or compare lot sizes all at once. search in full color to find space to grow. home search will never be the same again. >> buying a car is kind of a big deal. you need to see all. >> the options. see. >> she knows. >> cargurus gives you the most new and used cars right in your hand. so you know your big deal

is the best deal. cargurus the number one most visited car shopping site assured. >> guarantees bond insurance was. >> protecting investors. >> and municipal. green bonds. >> before they were even called green bonds. assured guarantee. >> a stronger bond. >> what if you could tackle your dog's itching, paw licking, mushy poops and low energy with a simple three minute change to their diet? millions of pet parents are raving about doctor marty nature's blend, the anti kibble breakthrough that's helping dogs act like puppies. again. such a huge. >> difference in your health. more energy. >> more playful. >> no more. pooping issues. he's healthier. he looks better. this is. >> my way more. >> energetic dog. >> i'm doctor marty. >> i've been a veterinarian. >> for. >> more than 50 years. the dangerous ingredients added to many pet foods could be impacting your dog's lifespan. that's why i formulated. >> nature's blend. >> now you can feed your dog wholesome cuts of real meat, vegetables and fruit with no artificial preservatives or fillers. unlike fresh food, nature's blend is gently freeze dried. this means extraordinary

health benefits, but with zero prep, zero fridge and zero mess, i just feed her right out of the bag. she's obsessed with this food. thank you, doctor marty. >> and for a limited. >> time, get up to 54% off with our. special tv offer. >> call or go to. >> call or go to. >> doctor [sfx: wind, rain and rolling thunder] with the vision to see what's possible and the grit to make it happen, morgan stanley can help create the future only you can see. [crowd cheers] [music out] exchange. going to take a quick look at etfs tracking countries facing tariffs from president trump and their performance since he took office. taking a look right now may be surprising to see but we're actually seeing the sky. that's the etf that tracks china actually moving up double digits. pullbacks for the e.w.c. that tracks canada. the e w w actually rising more than 5%. the index that tracks india

pulling back more than 5.5%. all right. coming up we have wedbush's dan ives. he's standing by to make sense of the tech wipeout, including the mag seven meltdown. he's going to lay out whether the high flying stock group, whether that run is truly over. and then tomorrow on worldwide exchange with president trump's tariffs on steel and aluminum set to take effect. we're speaking with the ceo of century aluminum about the impact of those tariffs. the impact of those tariffs. we'll be back in (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts.

business cards. >> but we also print. these and. those and. >> engrave that. >> we print your brand. >> on everything so customers can notice you, remember you, and fall in love with you if you need it. we print it with 25% off for. >> new customers. >> at vistaprint. com. high point university, the. premier life skills university, is ranked the number one best run college in america by the princeton review. employers value hpa's real world preparation. >> students love. >> unprecedented access to global leaders. >> on high point's inspiring campus, and parents appreciate. >> hpa's god. >> family, and. >> country values. choose to be. extraordinary at. >> high point university. >> if you're looking for the one. find the home with a short commute to work. find the one in a great school district. and find it exclusively in professionally sourced listings. download the realtor.com app today. 16 million americans

suffer from chronic back pain, the sixth most costly health condition in the us. meet creative medical technology stock symbol sells on the nasdaq. creators of stem spine, a regenerative medicine using stem cells to help fix the multibillion dollar chronic back pain problem. stem spine was shown to be 87% effective at improving mobility and reducing chronic back pain, and that could be worth a fortune. creative medical technology stock symbol sells. >> the number of public companies is shrinking, while the number of private companies is increasing. at franklin templeton, we're expanding access to the growing opportunity in private markets, offering the potential for greater diversification and enhanced returns through our world class specialist investment managers, we are empowering advisors with solutions to build the portfolios of the future today. alternatives by franklin templeton, your trusted partner for what's ahead.

>> all right. welcome back to worldwide exchange. let's get a check on a number of consumer focused names and travel gambling and beyond. our contessa brewer joins us now with much more on that, contessa. good morning. >> good morning to you, frank. >> yeah. >> these recession. >> worries are really hitting travel and leisure. >> stocks hard. >> the cruises are continuing their descent this morning. >> viking is. >> off 3% in the premarket. and what we saw yesterday was cruises closing way lower. carnival off 7.5%, norwegian. off 6.5%. royal caribbean and viking following suit. i mean, this has just. >> been a. >> rocky road month to date. carnival's 20% plummet. >> well, that's enough to make you seasick. >> let's look at hotels here. also continuing in the red this morning. hilton dragging. down the lot off 3% in pre trading. >> at the close yesterday wyndham was the laggard. >> of the group. closing lower. >> by 5%. >> hyatt hilton marriott also. following suit there.

>> and then tripadvisor. >> actually has been recovering. >> a bit. >> this morning in the green by a quarter percentage point. but it. >> got pinched along with. >> expedia and booking holdings at the close. >> our consumer is really going to pull. >> back. >> here on. >> experiences as these worries about the macro picture taking hold, draftkings looks like it's recovering slightly. oh no no, it's in the in the pre-market down, but it looks like flutter is recovering slightly this morning. and draftkings up half a percent. there we go. glasses on casinos. >> sportsbook stocks. >> though, have been getting slammed. penn entertainment down 9.5%. >> flutter closed. >> lower by 8%. you've got draftkings and caesars lower on the day and then penn off 23% month to date. it's just a real question about whether consumers will continue spending on these experiences that have been the lure, even over goods, so we'll keep our eye. >> on it throughout the day here, frank. >> all right, contessa, thank

you very much for the very latest. our contessa brewer. contessa, have a great morning. appreciate the coverage. all right. we'll turn our attention now over to the tech trade, which led the markets up over the past few years. but now, some of the biggest drags on the nasdaq and the s&p 500 are those same tech names. check out the declines from the mag seven from their 52 week highs. you're seeing it right there. i mean, tesla is one of the notable ones. more than 50% off its 52 week high. nvidia 30%. meta. alphabet amazon and microsoft, all of them approaching 20% off their 52 week high. joining me now, dans, global head of tech research at wedbush securities. dan, we're very lucky to have you here today. thanks for joining us. huge selloff trillion dollars in value lost off the nasdaq 100. i just want to get your take on why yesterday we've had these tariff concerns. we've had these recession concerns. it didn't seem to be any big economic reports or anything out. why do you think it happened yesterday. >> what's the rules. >> of the game? >> in other words, from. >> a. >> macro perspective, in terms of. >> tariffs. >> in. >> terms of. >> china export controls, i think that's. >> really the one.

>> that's getting the tech trade nervous. because when you look at export controls, what does that. >> mean for nvidia. >> c chip. selling off ai revolution. >> a lot of. those trades. and i think. that look i think you're seeing. i believe the nervousness that i'm. >> seeing, i'd. compare to maybe some. >> of those days even. >> during covid in terms of march 2020. >> i'd say that level of nervousness, but i believe it's misplaced relative to where i view the fundamental stories playing out. >> in tech. >> yeah, but i mean, have we known about those export controls for a while? i mean, it just seems like monday. it kind of did it just everybody started to believe that all these things were going to happen. tariffs, export controls. and do they just all of a sudden realize that the consumer is also stretched, which hits a number of these names. >> well i think also maybe like some words. >> about recession. >> you know, what does that mean for the consumer. every data point sort of. >> micro analyze. >> look what i believe especially in tech. look valuations clearly are expensive. if you don't believe what. >> ultimately growth is going. >> to. >> look like. >> and i think right now look you're going through a gut.

>> check period for tech stocks. but i. >> believe this. >> is. >> not the time to hit the exit. >> run. >> for the hills. i think you look at the winners. you. i think we navigate through i'll call it an uncomfortable. time for growth. and i think that's where. >> the opportunities are. >> i just want to be clear really quick. we were talking about the one thing that concerns you. it's the export controls. you think that's kind of the catalyst for some of this downturn at the same time? i mean, you're known as one of the biggest bulls when it comes to tech on the street. a lot of times, you know, we have a little fun. you're talking about what time it is and the i party. this is, like you said, a gut check. but i just want to ask you about the fundamentals. you often talk about we're in a ten year cycle when it comes to the ai build out. do you still believe that that cycle and that that story is still intact? >> yeah. and look, we're in year. >> three of what's essentially. >> an 8 to 10 year build out. the reason those. >> export controls. >> it sent such. >> really nerve. >> you know, throughout the tech. >> trade is. >> that that's. >> something that. >> when it comes to supply. >> chain, when it comes to a lot of the build out from nvidia, when it comes to the data center point, but i believe it's going to be worse than the bite. and

this is not the. time that in any. sense for me, you know, we sort of peel back on the bull thesis. >> i just want to kind of just go a little bit broader. let's talk about something like the igv software that seemed to be taking off in the early part of the year, but i'm looking right here. it pulled back more than 5% yesterday, not subject to those same export controls. a lot of their customers, when we're talking about the igv, their enterprise customers not necessarily hit by the same impact from consumers. why are we seeing that pullback? why are we seeing the ark innovation etf pulling back. sure. why are those things pulling back on the on that story of export controls and tariffs. >> i think it's. >> more about the. self-fulfilling prophecy. in other words if enterprises cut. >> back does any of that. i spend. >> that cloud spend sort of cut back. >> when you look at oracle last night, i mean oracle strong in terms of data center in terms. >> of ai spend. >> but frank, i think right now we're going through one of those periods where goods bad bad's worse. >> but that does create the opportunities. >> for the names you want to own. >> as we're looking at this, what seems to be a rotation away from these mag seven names.

we're going to talk a bit more about that in just a second to talk about what's coming up. but first i want to go back deep sea because that's still hanging on the tech trade. is that still impacting some parts of this. >> i think. >> lingering, but i do think it's more. >> has come out about that. i think. >> that maybe there's less. >> nervousness in terms of what that. >> means in terms of nvidia and the overall build out, but. >> it. >> does speak to is there. >> a. >> decoupling going on between the. china trade and us. >> tech trade? and i think that's. >> something you're even seeing in terms in. >> hong kong. >> and more and more of the focus on. china tech. but no doubt i think deep seats out there and it puts more pressure. >> in terms of. beltway export controls. is that a shot across the bow? i think that's how you sort of tie it all together. >> all right. we're going to get into what's next. all right. so i know a lot of people, you know, they know what happened. they want to really talk about what's next. so dan stay with us. we're going to go to a quick break. we're going to drill down with dan on the mag seven and where that group is going from here. stay with us. much more coming up after this break. >> totalenergies has. >> been hunting. >> for the best entrepreneurs across africa. to tackle energy poverty.

>> farmers are highly dependent on rainfall, but. >> water is. >> scarce with drought. our solution is mobile solar containers for off grid farmers, which uses ai to make irrigation more efficient. >> being an. >> entrepreneur is not an easy task. you have to have faith that a door will open. >> ubuntu means unity. >> this is how we're going to fight climate change together. fight climate change together. >> i. ♪ empower ♪ i got her a little something. a little something, dad? hold up. walt rolled his 401k accounts into an empower ira, and it's grown nicely. i'm for team splurge. (♪♪) thanks, grandpa! get good at money. so you can be a little bad. empower. you think those phone guys will ever figure out how to keep 5g home internet from slowing down during peak hours? their customers have to share a wireless signal with everyone in their area. oooh. you know, it's kinda like when you bring a really big cake

for your birthday, and then there's only a little, tiny sliver left for the birthday girl. aw. well, wish her a happy birthday. happy birthday... -it's... ...to her. -no, it's me. have your cake and eat it, too. don't settle for t-mobile or verizon 5g home internet. get super fast xfinity internet you don't have to share. forty's going to be my year. love us at the tv today. >> delaware governor matt meyer. the strategy to keep delaware america's incorporation king.

plus, how changes in washington are impacting his state. stay ahead of the market. squawk box today, 6 a.m. eastern. cnbc. support women's herstory month when you join the sharks at shop the tank. >> my business. >> is blooming. >> scan the code. shop the tank. tonight, 9:00 eastern. cnbc. >> april 8th. >> join the cnbc. >> changemaker summit featuring powerful women transforming and redefining leadership in the world of business. request an invite at cnbc events. com slash changemakers. >> and we are back on worldwide exchange with dan ives, global head of tech research at wedbush. yesterday's sell off that saw the nasdaq suffer its worst day since 2022. the mach seven, they shed more than 750 billion in combined market cap. just kind of important to note. nasdaq actually popping back up right now. up about a half a percent. dan i want to talk to you about this. i also want i want to play a sound bite for you from our jim cramer on mad

money last night. i want to get your take on what he said about the mag seven rate. >> i would not jump back into the magnificent seven because as of tonight there is no mag seven came up with that name, scrapping it right now, no moniker fits the 2 or 3 that remain viable. and i'm not going to put. and there's nothing magnificent about tesla or nvidia. >> nothing magnificent according to jim cramer about nvidia or tesla. do you agree? >> look, i think. >> what. >> jim is saying is. >> you have to. >> look. >> at these. >> all separate. >> growth names. >> you can't just put them all in a basket. if you look at nvidia, in my opinion, one of the most oversold there in terms of where i think the chip trade is going. >> tesla. >> as we've. >> talked about, has its. >> own specific issues that they need to. navigate in terms of the musk brand issues. i think. you got to look at these in terms of do you own microsoft? i think you own alphabet. in my view, you double down on. tech here. if you believe which we do, that this ai revolution is still in the early innings. >> so you're saying. do you agree? no more mag seven. it's really about alphabet and

microsoft and the other ones. case by case valuation entry point. is that the story? >> i think it's still i think mag seven is there. but i think what jim's saying, which is a great way to put it, is you have. >> to. >> see how they're going to navigate over the coming months. some of these stories could become disentangled from some others. you can't just put them in a group. you got to focus. >> on. >> specific names. where do you own alphabet? where do you own microsoft? >> tesla? >> where do the brand issues? i think that's the best way to navigate it. >> let's go back to tesla for a second. when we talk about elon musk, it's a bit more than brand issues. right now i'm just looking at his year to date losses right now, $132 billion for elon musk. that's a lot of money even for the richest person in the world. larry ellison down more than $23 billion jeff bezos down about 22.5 billion. jensen huang down more than 20 billion. what do you make of that. the fact that these tech billionaires their companies, they power the market over the last two years, but now they're taking some big losses. >> it's been. >> a dark time. >> for tesla shareholders, especially. >> this year, right? i mean, because when it comes to musk

and it comes to all the opportunity and the. innovation ahead right now, it's not just brand issues, it's distractions. and i think it really starts to now become almost a symbol in terms of the sell off. look, and i think we talk about gut check moment. frank, i think this is going to be one of those periods for musk. for tesla. they really need to navigate because this is going to be a key 3 to 6 months ahead. there's so much innovation ahead. and we continue to be so bullish. but no. doubt this has really been a, you know, a really a white knuckle moment. >> for. >> tesla shareholders. >> i got to put you on the spot. everybody's listening. hear what you have to say. give us your top picks in tech at this point. not what's going to work ten years from now. i mean, for people that are buying, you know, looking for opportunities over the next year or so, i want to point something else out. this is from bespoke. so obviously yesterday one of the worst days for the stock market in years. the nasdaq it's fallen a similar amount over the last 13 trading days than it did in the first 13 trading days of covid. just to kind of put that in perspective, what are your

top picks? what what would you buy on the dip right now? >> i think there's five names here. that i buy on a bet in terms of the names that i view as just table. >> pounders relative to where i see it six, 12. months now. >> it's nvidia, it's. >> apple. >> it's microsoft. >> it's tesla. >> it's palantir. to me those are the five names. the way that they've sold off that i continue to view as sort of the names that i would own over these next three, six months that i. right here. right here, right here, right now. >> okay. when we're talking nvidia and tesla hands off right now i know you know you're one of the biggest bulls in nvidia we've ever seen. you've been you know you cover tesla as part of your ev coverage. is it just hands off right now. too much volatility. >> i mean i don't look i've always viewed it. and anyone that's followed me. for decades like in the. >> chaos creates opportunities. >> when i look at nvidia, you're talking about there's only one chip fueling the ai revolution. this will be, i believe, all time highs for nvidia will happen in 2025. despite what we're seeing for tesla. it's navigating this moment we've been at we're at six times.

>> we've had 50% sell. >> offs every time. it's been the opportunity. >> i know it's like 830 in the in the i party. i think the cops may have shown up. the cops may have shown up. we got to leave it there. dan ives from wedbush, it's always great to see you. quick check of futures right now as we mentioned futures rebounding a bit. taking a look at the nasdaq up nearly a half a percent. the s&p up about a third of a percent. the dow looking like it would open more than 100 points higher. that does it for worldwide exchange. squawk box starts right now. >> good morning. >> we are looking. >> at a. >> dead rock bounce. >> a little bit of. >> a rebound on wall street this morning following. >> a historic market. >> i don't know if i'd go that far, but year. >> to date gains. >> for the major averages have. >> been. wiped out. and the tech. >> stocks nasdaq was something. >> to behold. >> suffering $1 trillion in losses. and they actually. the averages came. off the worst levels of the session. >> wall street royalty. >> also taking it on. >> the chin in. >> terms of. >> net worth. >> and nobody. >> had it worse than elon musk.

>> there we. >> are, though. the harder you fall to speak. >> with longtime tesla investor. >> ron baron. >> get his thoughts. >> and we are. >> on shutdown. watch, watch. >> in washington. >> the house. >> is expected to. >> vote on. >> a gop. funding bill today, but. >> the passage. >> of it is nowhere near certain. >> it's tuesday, march 11th, 2025. >> squawk box begins right now. >> good morning. >> everybody. >> and welcome. >> to squawk. >> box right here. >> on cnbc. we're live. >> from. the nasdaq. >> market site. >> in times square. i'm becky quick. >> along with. >> joe kernan. >> and andrew. >> ross sorkin. and as joe mentioned. >> things are. >> looking a little bit better this morning in the us equity futures picture. >> right now. >> the. >> dow futures are. >> up but not even triple digits. >> a gain of.