x is down datan percent in 2016 relative to the dow and s&p, down 8%. the nasdaq biotech technology indexes down. now takingarket is biotech's down 30% from the record peak last july. currently the nbi is holding its bear market below. you have to wonder in this sort of wild environment, how long will that last? on a year to date aces, the biggest point drag is big tech, apple, microsoft and out for that -- and alphabet. the company cut its first quarter poor that its first-quarter forecast. cut first-quarter forecast. this is the big tech company to first report the season. it is weighing certainly on apple. the stock is down today. recovered a bit, but perhaps in sympathy with that news at of intel and news that the company would have to pay $8 billion on back taxes on a european probe after paying an italian -- an italian tax bill last month. the timing could not be worse, worse, considering the stock is down on concerns around the iphone. >> adding so much more instability on apple. thank you. abigail doolittle live at the nasdaq. let's stay on the