a storm taking down nvidia today. the stock plunging 19% for the worst day in a decade after reporting earnings last night. nvidia down now more than 40% from the all-time high last month. dan nathan sees similar dark clouds over another big tech name dan head over to the plasma. >> let's talk about what happened here other than the megastorm in new york. nvidia closed down 19% today the company now has $100 billion market cap look how much was shaved off by one poor earnings result here. so to me i think you really have to think about is this a canary in the coal mine for broader tech we know that nvidia their chips touch a lot of technology. but it's important to think about what are some other tech stock stories that have unusually high sentiment the way nvidia did this is the one-year chart of nvidia this was important october 3rd making a new all-time high. up nearly 50% on the year. downdraft here down nearly 50% from the highs from 52-week highs to 52-week lows in less than five weeks that's bad stuff for a ver

this is the one chart of nvidia.ctober 3, making a new all-time high up nearly 50% the year look at this down draft. down 50% from those highs. from 52-week highs to 52-week lows, that is not good stuff let's go to the five-year chart. this thing was a ten bagger. when it broke a couple of weeks ago, you went, i don't know where this is going to stop. let's go to adobe. sales grew up to 20% that was good news investors like it. it's still down from there look at the stock. look at it sitting at 235. this is an expensive stock, trades about ten times its sales and about 30 times expected earnings let's go to the five-year chart. it resembles a lot of that nvidia chart doesn't look great to me now i want to overlay the two of them over the last five years. kind of similar. massivy out performing the s&p we saw what happened there here is adobe. december 13, it has that earnings event i do not, if i own this stock want to be sitting around for some disappointing guidance. i might think about as a health or if i'm lookin

i didn't realize nvidia is a cryptocompany.e fact that they blame it almost entirely on that stocks overshoot to the up side and down side. what you hope for tomorrow if you are bullish is that it trades north of 50 million shares about 3 and a half times normal volume and maybe we see a cap it laer to become bottom i got to tell you the although the 168 is important you should ukd see it down to 135, 140. >> we've backup hearing about the slowed willingen from cryptodemand for a while about but to be fair they blame slowness in data center which could be a read through to intel as well as gaming. >> this is not about crypto. it's a small part of the business anyway. cryptohas been down since january, february, the highs so it really shouldn't shock anybody at this point in time that demand from cryptois down perhaps they made a mistake. preps they overbought the inventory too much and they just didn't realize it. they are trying to blame it on a small part of the business. >> if they are blaming it on cryptoit makes me nervous

tell you the truth he never answered to nvidia anyway.amer. ally want to , but you can't. at cognizant, we're helping today's leading media companies create more immersive ways to experience entertainment with new digital systems and technologies. get ready, because we're helping leading companies lead with digital. get ready, because we're helping leading companies introducing e*trade personalized investments professionally managed portfolios customized to help meet your financial goals. you'll know what you're invested in and how it's performing. so you can spend more time floating about on your inflatable swan. [ding] starts with a december to remember at the lexus december to remember sales event. lease the 2018 rx 350 for $429 a month for 36 months. experience amazing at your lexus dealer. for 36 months. at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the o

stacy: on nvidia? lisa: yes.t buy nvidia for crypto or for midrange gaming, you buy it for data center ai, automotive, professional visualization, all these other markets that are doing quite well. i don't think the thesis has changed. if you had a change of heart on those businesses, that might be a thesis changer that i don't think we are near that at this point. lisa: thank you so much, stacy rasgon. he's a senior analyst at bernstein joining us by phone. taylor: now we are looking at some of the stories trending across the bloomberg universe. i want to start on terminal isscribers reading pg&e having its biggest rally since bloomberg collected this data on the company in 1980. the heads of the utilities regulator hinted the state could push for pg&e to prevent bankruptcy. top 10 items netting half $1 billion on their own. bloomberg.com is looking what else that money could buy. million onpend 55.4 . jackson pollock's composition twitter, they are maintaining the ban on the trade of tiger and rhino parts. crit

similar themes to nvidia only 50% of the sell side that have buys on this name versus nvidia, 75%. nvidia is well loved at this point. i think xilinx is in a show-me mode six out of nine markets showed growth, grew revenues of 19% in the quarter. data center grew 24% 5g is just in the beginning. so i feel like 23 times forward. i was waiting for it to pull back but i do like the momentum here i do think that 2019 is going to be all about 5g. it already has been. joe talked about verizon a big way and, jon and pete, you've talked about other names as well. it's a gem i just is the one i prefer over nvidia >> may have to wait a little longer the stock is getting a nice bump option traders coming up betting on one stock down 20%. unusual activity is next first, though, the s&p sector check this hour. let's take a look at what's leading the way, industrials s&p good for about 17. this is h. aka, rocket city, usa. this is a very difficult job. failure is not an option. more than half of employees across the country bring financial stress to work. if you're stressed out financially at ho

start with nvidia end with nvidia. >> steve. >> i went to a couple of proms lennar. >> next week potential dovish fed maybe a trade deal dollar might be lower. buy gold. >> sim teerm. >> i'll be delivering the corsage. in the boeing jet. they are not affected by trade go with that. >> fun friday show. >> it was. spify show moves like this feels like a half hour. >> what would you do with the show >> trade it. >> all all on fast "options action" starts right after this >>> ready? ♪ at this moment ♪ ♪ you bring everything i need ♪ iome ♪ con my knees. iome ♪ con my knees. it's the perfect holiday upgrade. i know what i'm asking santa for this year. you still write letters to santa? no. please. i send him emails. can email address? oh... i don't feel comfortable sharing it. get the iphone 10 s and our unlimited plan with your choice of the best in tv, movies, or music. more for your thing. that's our thing. welcome to emirates mr. jones. just sit back, relax and let us entertain you... ...with over 3,500 channels of entertainment, including the latest movies and box sets from around the world

do you think we nvidia will move past those hurdles?sentially what nvidia ord is they expect to clear wash out there inventory by the end of the fourth order, which is the january quarter. i do not know if that is aggressive or not. if we give it another quarter or two, it might be until the middle of next year it is fully cleaned out and we can resume growth on the gaming side. is three through some of the other stocks in the sector? we have seen applied materials and other chipmakers get hit hard as well. is it a trade down in sympathy or are they also facing separate issues? woo jin: to some degree it is a trade down in sympathy. keep in mind that most of the companies, the semiconductor companies have reported earnings. the pullback, if you look at the magnitude of the pullback of other semi companies, it has not been that strong. if you look at the valuations companies,iconductor they are at historic lows. potentially expecting another leg down in estimates, but it might be priced in. scarlet: look at the stock index. are we going

nvidia added to the latest signals.s., computer graphics chipmaker and video tumbled after the bell following a weak sales forecast for the current quarter. a disappointing outlook for the materials suggests the industry is holding off on expansion in the face of a murky outlook for electronics demand. facebook's ceo says the company is taking more drastic measures to reduce the spread of sensational content on its site by tweaking its news feed algorithm. the social media site is also to make other changes to content moderation including for first-time -- for the first time, allowing decisions to be appealed to an independent body. >> i have come to believe we should not be making so many decisions about free expression and safety on our own. we have been talking to people for some time now. i have spoken to many experts. myself, starting in the summer. today, we are announcing we are creating a new independent body that people will be able to appeal to that will have the authority to determine whether content should c

it seems like this may be idiosyncratic to nvidia. >> it is.u look at some of the other crypto exposed names come up based on the earnings calls i have listened to, it seems as if the impact is smaller in nvidia, and pretty much lost out. when you look at crypto exposure as it relates to the overall semiconductor space, nvidia has a fairly large exposure, and seem to have quickly cleaned out. guy: there is this narrative in the market that the semi sector cycle is now turning. you are saying is from nvidia we cannot draw that inference. correct, toartially some degree. for,we have been waiting in terms of the semiconductor estimates in stocks this past quarter were the estimate cuts. we started to see those in the last earnings season. at the valuations right now, we are still looking at historically low valuations for the stocks and analog index. it seems like the investors are looking for another leg down in terms of estimate cuts. hitpotential for 25% tariff is one risk. given where the valuations are, some of that is mitigated. a 400 billio

you're right >> boston scientific, unusual activity. >> quick. >> nvidia. >> good stuff.nks, everybody. "power" starts now. >>> weight watchers on friday. i got that one in my mind. welcome, everybody i'm tyler mathisen another big, big drop for stocks what's driving all this selling? how much lower could we go and how to protect your portfolio right now and bear market buys almost half the stocks in the s&p 500 are now down 20% or more from their recent highs. we'll tell you the blue chip names now worth nibbling at at these beaten down levels and off target, shares of the retailer tumbling after missing earnings estimates. a number of other big retail names also tanking on mixed results and weak guidance and the

i was going to say, nvidia, here is the funny thing about nvidia, "forbes" magazine, said it was company of the year and the stock but it dropped 70%. it has last four or five years lived up to the hype. if it does take that sort of leadership role i believe it will too, we can still be in for the kind of volatility that is unnerving. we love it when they go straight up, five bucks a day, 10 bucks a day, but not when they're coming down like that, lou. >> no one likes the vote tilt. nvidia reports later this week on the 15. analysts are expecting a weaker report. it is not quart over quarter growth but nvidia coming out gaming and artificial intelligence to self driving cars. that has the potential to be the next tech leader and again there is a lot more room to go. can apple go from one trillion to two trillion easily? probably not but can nvidia go from 100 billion to 200 billion? charles: lou is looking lovingly at nvidia. we have a soap opera brewing. thanks, lou. >> thanks, charles. charles: later i will ask you answer questions about the stock market. tweet me@cvpayne. amazon annou

stocks, intel and qualcomm are both up this morning while others are suffering and going back to nvidiae key one. it has just been a rocket and not only did they miss on revenue in the quarter they reported, but also guidance was weak what's going on here is this a moment possibly that we're going to mark when things took a dramatic turn because there was a slackening of demand that people didn't see coming or was this just a blip >> look, this is not the first quarter they got it below and this is the second quarter in a row. this time i think there's some -- there's some channel issues that they didn't really see. i think a lot of us saw that there was inventory in the channel and for some reason they didn't see that, and i think that they're being bitten by some it is a hangover effect from this cryptocurrency boom, really, and i think that they're doing the wise thing to basically cease all shipments into the channel to basically let the channel clear itself, and i think you could see a better april quarter as things snap back a little bit, but i think that the narrative now is that

nvidia is a perfect example of a two to five year play.f you have the luxury of that type of investment, this company is exceptionally positioned. and i would argue that nvidia has the best chip technology in the world. second best is apple i think they have 2,000 engineers that work on their chip nvidia is leading in terms of what's going on on the gaming side, future of autonomy, and more in block chain, crypto. a well positioned two to five year window. my advice would be one year people shouldn't be there, two to five year investor should be. >> mike, the breadth of selling in the tech sector is pretty broad. you have almost three-quarters of the sector, the stocks in correction levels or worse now keep hearing this is it, this is going to be a stock picker's market is this going to be a stock picker's market or just a reflection of the fact that everybody is holding efts? >> it is a stock picker's market in terms of some areas radically outperformed right now, we're in the kind of market it is easier to pick the wrong ones than the ri

nvidia dragging the index lower with align technology and adobe all in the red don't go anywhere.ore "squawk alley" straight ahead at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. whoa! presenting the iwhat's he doing? come on, let's check it out! nice. he's pretty good at this. hm! it's like a game! (gasps) woo-hoo! got it! which car should we get? all of 'em! ooh, yeah! that one! this one looks nice. yes, and yes. i like this game. i think we're winning! delivery? where? (doorbell rings) (man) it's here! what? (announcer) save $1,000 from carvana black friday through cyber monday. then go see "ralph breaks the internet," in theatres november 21st. >>> chip stocks moving lower today, following reports of weaker than expected iphone demand, international trade wars, falling cryptocurrency shares of nvidia alone are off close to 40% in the past six months, down 20% for the year. is there light at the end of the tunnel joining us, tj rogers. welco

they use chips from nvidia. that hit their earnings.ok for the coming quarter was significantly below analyst expectations. also applied materials, which makes the machinery that manufactures chips also reporting disappointing numbers. >> it's not just iphones and apple, but the crypto world? >> absolutely. apple has said sales of iphone units will not improve massively. the revenue from iphones is likely to improve, but that does not help the chipmakers. apple is trying to make up what it can't do in volume through margin. xiaomiave earnings from and jd.com. what are you looking for? >> how about margin is developing. both have an investing heavily. withi is more to do selling the phones, the hardware , and not a huge margin, in the hope they regain that on the service revenue for years to come. it is unclear whether that has proven successful. they are below the ipo price. asks an american, i have to , we have black friday next week. does this matter for amazon and the big online retailers? >> it is a good story to tell investors, tha

nvidia, severely disappointed. bottom line, if the fed says no more rate hikes last year, or if president trump gets a trade deal with china or does this kind of truce, the end of cycle proponents may have to change their tune and the market can rocket higher. but rallies like today are going to be used to reposition portfolios, because the bears will just not let it go. sandy in kansas city >> caller: hello, a big boo-yah from topeka, kansas. >> nice to have you on the show. >> caller: thank you i've been holding on to cgc for quite a while now, with the midterms over, i wanted to get your take on whether i should keep holding it or fold it >> that's the only one that you can own and sell the rest. it has that big position with constellation. if you believe over the long-term that cannabis is going to be good, i think constellation is good. it's got the best balance sheet. tom in texas, tom. >> caller: hi, jim long time watcher, first-time caller my company is international paper, ticker i.p. i'm wondering why the

-- from nvidia today? >> as you mentioned, there's been a huge selloff.hey were the poster child for everything different, the chip industry is suddenly a growth industry again and it's wonderful. now all of a sudden, that changed. you mentioned the word inventory, panic, everybody out. today's they need to steady the ship. scarlet: talk about the different business segments nvidia is in, and which one has the most promise right now? ian: the one doing the best is the data center business, selling chips to google, it's a new market for the industry in general. it's been argued they will grow regardless of topline growth. scarlet: ian king, walking through -- walking us through what to expect with nvidia earnings. these are live pictures from cape canaveral, florida where the spacex falcon nine rocket is about to launch in a few seconds. phoneasey joins us by from traverse city, michigan. sean, walk us through what is the most important part of his launch. where now minus 3-2-1. there we go. there you have it from cape canaveral, florida. sean casey on the

nvidia, ahhh, right?right it is that type of a market where regardless of what you report for the previous quarter, it's all about -- but there are different times and different sentiments why now are investors responding so dramatically to a lack of guidance even if t by the way, let's call it what they expected but not better. >> it's china, they do international. it's that china is slowing and then domestic, it's the fellow who speaks tomorrow the man who has said i have to break the economy, break the economy. >> jared >> yes the first one is bre-r-e-a-k the second one is b-r-a-k-e. i was doing burn down the village but that was too cliche. what do you say? >> talk about that a bit later. >> powell is going to speak in dallas the first chance to hear from him since the fed meeting. if he's even directionally dovish, jim, what happens then >> rally rally. >> how much? >> if he says the following, you know what, i've been watching inflation inputs, 12 straight days, i see the housing prices have clearly

. >> nvidia. >> good stuff. thanks, everybody. "power" starts now. >>> weight watchers on friday. i got that one in my mind. welcome, everybody i'm tyler mathisen another big, big drop for stocks what's driving all this selling? how much lower could we go and how to protect your portfolio right now and bear market buys almost half the stocks in the s&p 500 are now down 20% or more from their recent highs. we'll tell you the blue chip names now worth nibbling at at these beaten down levels and off target, shares of the retailer tumbling after missing earnings estimates. a number of other big retail names also tanking on mixed results and weak guidance and the market's going up, analysts overlook everything. when it's going down they nitpick everything what it means for the make or break holiday shopping season. "power lunch" starts right now >>> and welcome to "power lunch. i'm melissa lee. another ugly day the dow down almost 600 points early. the nasdaq down almost 3% at session lows but still trading below 7,000 pushing deeper into correction at this time down by 1.8% on the dow

he says, microchip and kla fit the bill chip investors turn their attention to next thursday when nvidiaeports results that stock down more than 20% in just of the last month this is an option show, so the implied move for nvidia is about 10% in either direction. so we could see another huge move next week. >> thanks for that, josh >>> well, as the semis get smoked, carter sees even more downside for one of the names. carter. >> so this is the god of semis you're talking about a stock, best performing stock in the s&p, one year, two year, three year, four year, five year, going into october and then we plunge that's epic stock was $2.92, it prints $1.76. that's a 39% decline and then ricochets back to $2.20 and now it's starting to falter again. let's put in some lines and see if we can figure it out. so we have this sort of, well, call it the trend of the past year, year and a half. it's clear a a break let's put it in context of the longer term in the is picking up the lows, basically of its great assent and we come down and we hit that line. so one could say why don't you think it bou

you have beautiful eyes. ♪ nvidia >>> welcome back to "fast money.he facebook face plant continues. the social media giant under pressure today down more than 8% in november and set to chose a third straight month in the red. that with the market's longest losing streak ever does it need fresh faces in the c suite. julia boorstin joins with us more on that. >> melissa, despite calls for facebook to separate the ceo and chairman role and reevaluate management at the top we are unlikely to see major changes because mark zuckerberg controls the company and expressed support for c.o.o. sheryl sandberg stifel analyst says excludeing a major caning they are looking at reputational turn around fraught with execution risk. sandberg dpoiing the reports of mismanagement. saying to suggest we weren't interested in knowing the truth or wanted oh hide what we knew or tried to prevent investigations is simply untrue now there are fwroeing calls for regulation senator mark warner saying he is disappointed with facebook management. >> i think there are ways we can f

i want you to look at that that's a 17% drop for shares of nvidia that's something to watch. >>> sharesf nordstrom also coming under pressure the retailer posting weaker than expected same-store sales. nordstrom saying it had to refund some credit card customers after overcharging them >>> and william & sonoma shares are in the red earnings beat the street estimates but revenues fell short of expectations. the retailer announcing plans to open stores in india those shares down 13%. >>> we are just getting started here on "worldwide exchange. coming up next, raising the red flag some of the nation's most powerful ceos are starting to get worried. what they're quiet i will telling jim cramer about the economy that you need to hear. >>> and oil rebounding this morning. is the worst over for the energy crunch we're digging in when "worldwide exchange" returns after this break. 300 miles an hour, that's where i feel normal. having an annuity tells me my retirement is protected. learn more at retire your risk dot org. . >>> if you're just waking up, let's get you up to speed on the market act

and now -- look at nvidia being the classic. you had a dip from 260 to 240 and a dip from 200 to 180 and 180 -- i mean this is not a dip. i mean it is k-2 i will jump off k-2. it will be fine. this is what dip buying has done we have to recognize dip buying was the operative way the bulls made money it is not working. every sale with the exception of the sales of the healthcare stock has been right >> you agree bitcoin matters here >> bitcoin turns out to be very important. intel is still a shortage and the high end nvidia was when you go over the data center, they did not know where their cards went to. there was a big backflow you can return cards by the way. it is $500 a card. you can return them. we didn't realize the chain reaction of bitcoin. a lot of people are getting $5 million in inventory. not that was so important. here we go this is timely yes, bitcoin and ripple, if you say something bad about bitcoin, you can't walk outside there is -- people really thought at nvidia that those cards being bought by gamers no, tha

i'm not involved in nvidia >> gina, it was only a couple of months ago that the story on nvidia, theompany and the perfect part of technology and mobility and gaining chips and has all that gone away all about stock positioning or fundamental issues here, as well >> look, i think the big overarching theme was the concern around china and trade tariffs and that certainly weighs on the semi stocks. you also have this combination of oversupply semi stock along with waning demand nvidia bread and butter is gaming they have to show positive growth in the gaming space but the up and comer has to be the cloud. they have to also really knock the lights out on the cloud. it is still well, you know, i think it's still pretty well priced and there are some v vulnerabili vulnerability. >> thanks to you both. for more "trading nation" head to our website or follow us on twitter at trading nation. bill, send it back over to you >> michael, thank you very much. >>> coming up on "power lunch. the race is on and it appears the u.s. is well positioned to come out on top. we're live in corpus christi,

. >> wal-mart on the long side nvidia short site. >> g.e. out of the money call spreads look cheap. >> that does it for us here on "mad money" with jim cramer is up next. >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to educate and teach you s call me at 1-800-743-cnbc. or tweet me @jim, cramer we are trapped in bizarre world again. the world where people assume oil going down is somehow bad for the stock market because it's a sign of global economic weakness? that could be a precursor to a recession. >> oh, no. >> the dow lost 202 points and the nasdaq declined 1.65%. oil's decline was a major culprit. at the same time yesterday the fed told us it's ready, willing and able to raise interest rates because the economy is too hot s

the semi-stocks sinking today as nvidia earnings missed estimates.market territory. >> thank you very much. >>> the oil market closing for the day and what a month it has been in oil. let's go to the commodity desk. >> crude oil was set for three days of gains but actually we ended flat today. $56.46. the gains we saw over the last two days were pretty slight as well. for the week still down almost 6%. so crude trying to find some support after such a drastic decline like you mentioned but lacking conviction in this trade. let me remind you, the opec monthly report, the iea monthly, the inventories all still supporting that bearish story. there's opec meeting on december 6th. that's probably the next catalyst even a million barrel cut from this inflated base could get this market excited and get it to go higher. today's session low was 56.12. that gives you a sense of the range melissa. >> thank you, jackie. >>> facebook under fire, the company reeling from a story in "the new york times" about its crisis management tactics and renewed attention from

>> yeah. >> how about a name like nvidia was a $200 stock they all loved it at $200. oh, my gosh, you know what i'm saying people sit on this desk all the time, you know what, you can look past valuation. trading at 20 times. a lot of us have stayed away from the valuation levels and the only concern the desell tags in data center, are they losing to somebody else, particularly somebody like intel. >> single home sales might be disappointing, but it might be an opportunity and that's where a stock like fortune brand comes in where the stock is off almost 40%. >> how about a home depot or a lowe's those names that are not the housing names. >> so what do you make then of the way that home depot traded after its earnings it was almost telling about where the market psychology was. >> sell the good news, buy the bad news the consumer, the housing market, all the good things that come to be, what about gas prices that should help the consumer, consumer confidence which should help spending, go back to all the areas of the market we're talking about. >> what about the trad

it nvidia adding anxiety for the chip industry.nt to highlight that it is looking like deja vu. falling the most since 2016. citigroup says such a move would hurt small lenders the most. let's get to first word news with jenna dagenhart. jenna: facebook is under fire for how it delivered -- handled fake news, including the use of aggressive tactics. following a scathing new york times reports, they have cut ties with a firm that linked facebook in the knees -- enemies. commerce secretary wilbur ross says the u.s. still plans on raising tariffs in january despite the planned talks between president trump and president xi jinping at the end of the month. they will only discuss big picture items and perhaps produce a framework. january isal by impossible he says. is closingler casino down until further notice. said repairs are needed after suffering millions of dollars of damage. the shutdown is the latest low for the casino operator. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists an

nvidia's terrible day. and horrible month down 1% in four weeks. amd down 26% in a month. and a big call on home depot that may say a lot more about the market at large than just this bellwether company. "the halftime report" starts right now. >>> welcome. good to have you with us here to debate and trade the biggest stories, jim lebenthal, josh brown, steve weiss and with us from new york city rebecca patterson. let's begin with the markets stocks are missed. even more talk about whether the fed is about to make one big policy mistake jim lebenthal, one of the biggest questions in the market. >> if the giant mistake is whether they go in december, it would be a mistake not to. what they say about going forward in 2019 is crucial we have china slowing. it's very clear and it's the effect at least in part of the trade war going on that has trickled through, the fed has to acknowledge these risks are out there when they say what they're going to do. >> why are you so sure they have to go in december? america is not an island they say, quote, start with the fed which should r

just to give you a snapshot of that, facebook, apple and nvidia stocks trading lower at this stage last night we saw facebook closing down 5.7% apple down almost 4% nvidia down a remarkibiliable 1% in terms of last year's performance, that's a telling set of numbers facebook 39.5% lower onthe las 52 weeks amazon down 25%. netflix down 35% some pretty striking numbers there for the u.s. performance stocks in asia have followed wall street lower. nancy hungerford has been watching over the course of the day. how much is that u.s. tech trade spilled over to asia >> it's not pretty across the board in asia. the tech wreck on wall street is playing a big part you can see we saw some selling across the board a lot of weakness in the greater china markets. the shanghai, the shenzhen and the hang seng off about 2% we should point out you are looking at the auto sector there, significant losses for nissan, mitsubishi after the arrest of carlos cohn. the autos were off 1%. the big story is all about tech. let's show you what the impact actually looks like in asia. we are looking at some apple sup

and it was a similar story late today forth nvidia. company reported earnings fell short of wall street estimates. and offered an tlook that disappointed investors. the nvidia says it plans to return an addition$3 billion to shareholders. that wasn't enough. the stock sold off in initial after hours trading tonight. >>> facebook was under fire today after a "w york times" report criticized executives for their handling of a number of cries. the report found media company pursued a, quote, delay, den a deflect approach when he it cams to russian meddling in the election and ke news posts. it also said that top executivet orches a campaign against critics, rivals and proponents ofn. regulat facebook ceo and founder pushed back calling the criticism unfair. >> i've said many times before that we were tooo slow spot russian interference, too slow to get on t of it. and we have stumbled along the way. but to sugge that we weren't interested in knowing the truth or that we wanted to hide wha we knew or that we tried to prevent investigations

nvidia shares plunging, the chip designer warning of disappointing sales.t's blaming a build up in unsold chips after the cryptocurrency mining craze started to slow things down. >>> shares of nordstrom also coming under pressure the retailer posting weaker than expected same-store sales. nordstrom saying it had to refund some credit card customers after overcharging them a higher interest rate on their store credit cards >> you want me to read the stocks for you down 9%. >> yeah. i want to look over. i can't -- >> down 9% >> i can't see it. >>> and williams-sonoma shares -- >> down 13%. >> -- awesome. can you get it deeper? >> i'm trying. earnings beat the street estimates but revenues fell short of expectations. the retailer announcing plans to open stores in india i thought i was going to say one other thing. i forgot >>> uk minister -- prime minister theresa may says she plans to appoint a new brexit minister within the coming days. willem marx joins us from london this is like the day after coverage i don't know where we stand. it's good that we get to

nvidia quarter is the problem that they misjudged and didn't realize how many of their chips were goingot enough versus going into miners, too many how long is this inventory correction going to last and what happened is -- and i showed that chart because you can see when the crypto mining craze started taking a lot of their cards and now the suggestion is that they have to wipe out that inventory. there are a lot of returns, too, once things got out of the negative that's inventory vex of yes proportions. >> we're watching bitcoin, whether it falls below 5k. >> nvidia will come back. >>> what's on "mad" tonight? >> we have a good story. boot barn. i know we're getting into granular small stories what are you raising your arms for? >> boot barn all right. way to go. >> david's bridal. we had a david's bridal filing today. >> oh, my god, they filed. remember klein felde's >> yes, i do i do. >> jim, we'll see you tonight. "mad money," 6:00 p.m. eastern time. >> i want to remain positive >> i know. >> when we return, bob lutz will get his take on nissan and the arrest of carlos ghosn dow i

microchild support appear kla fit the bill chip investors turn attention to next thursday when nvidiaeports results. that stock down more than 20% in just the last month. i know this is options show, so the implied move for n individuallyia is 10% either direction. we could see another huge move next we can. back to you guys. >> thanks for that with the implied move josh lipton in san francisco as the semis get smoked carter sees more downside for one of the names. he is over at the plasma to break it down. >> this is the god of semis. best performing stock in the s&p, one year, two year, three year, four year, five years. going into october then a plunge that is epic the stock was 292. it prints 176 a week 1/2 ago a 39% decline rick ochet. the and then we have the trend of the past, year, year and a half it's clearly a break. put it in context of the longer term this is now picking up the lows basically of its great ascent. and we come count and hit the line one could say why do you think it bounced it did bounce. 176 to 220 now it's hooking down again. my bet is that we actually fai

>> walmart on the long side, nvidia on the short side >> ge out of the money call spreads look dollar that does it for us here. have a great weekend "mad money" with jim cramer is up next. the following program is a paid commercial presentation for total gym fitness. [music] everybody work out. feel the energy. build a better body. the best you can be. another body easy as 123. oh. ahh. better body as easy as 123 with total gym. i feel fabulous and when you feel good abou

nvidia was disappointing due to the crypto slowdown.business may be of record 18% on a slowdown. my point is where are we in the stock market right now it seems to me like we are getting large stock moves that unrelated to the importance of the news, the magnitude of the news i think the reason this is happening, it's not related to the stocks necessarily, it's related to the ma crow -- macro intention. that's what's causing the confusion. i'm concerned there's no catalyst until the g20 is that november 30th? the expectations are low there maybe they could turn that around we're sitting around looking at this for the week. retail is back to we have problems again after middle of the year things were better. semis, energy down, health care. that's a big stable sector banks haven't been -- the market is down 1% to 2% this week retailer -- middle of the year, a lot of people will fight against amazon see what's going on. this is just daily what's happening here the last few days i want to point out, nobody talked about but intel announced

nvidia also at a new low on strong volume as well. nvidia now down 50% in just two months and apple supplier sky works hitting a new low today, 18% down for the month of november. its sixth straight month of declines. very little bucking the trend as i said, fox is higher as disney went to get its assets in china. tesla, this was in free fall in september with those issues with the doj and musk. and take a look at the risein tesla. its very different, melissa, from anything else you'll see on the nasdaq. >> odd to think of it as a safety stock. bertha, thank you. >>> trade also one of the big fear factors. eamon javers is live at the white house with what went on over the weekend. >> reporter: it was called asia-pacif asia-pacific economic cooperation summit. xi jinping was there. twlaent a whole lot of economic cooperation visible on the agenda. the sides failed to agree on a joint communique, that's the first time in a long time they've been unable to agree on a single document coming out of this particular economic event, a whole h

tops are processes and bottoms are events pete was about to say this but he was going to mention nvidia and we talked about it and he said if you happen to see a day down to 138 on big volume and reverses that's the big day. >> that's what happened. traded down to 135 level we talked about while i was in the car on thursday while the governor was playing cribbage in the storm if you recall. and that's what happened that was an event. >> what is kripage. >> omnii'm not sure. >> some gim. >> it sounds good. >> on the top of the reversals we have seen -- i didn't look at the volume on facebook or amazon intraday we saw facebook in the dwroen and it reversed are these positive signs >> i think there is enough damage done in a lot of the stocks where a bottom isn't a one-day event. i think this takes months and months and months to prepare, not different from 2015 ob 2016, 1r0u, 1207 it takes time not a singular event. >> quickly chris is there such a thing as the triangle of death. >> it's the first i've heard of it. >> flying over bermuda. >> that's okay it works -- whatever works for you.

microsoft and nvidia are sliding.s is bloomberg. ♪ ♪ caroline: this is "bloomberg markets: the close." i am caroline hyde in london. lisa: i am lisa abramowicz in new york. wall street trading desks will boost women's compensation this year to narrow the gap with men. the firm says payee quality is more in the forefront this year than ever. wall street is facing pressure to make their workplaces more attractive to women with better pay and faster promotions. has filed for bankruptcy in a deal that will keep stores open. it is not expect major closures or liquidation. shares of macron are falling. reportedncial times" the chinese will deepen investigation into chipmakers. china says it has massive evidence of violations. that is your business flash update. king joins us from san francisco. talk about why we are seeing the fall of in chips. we knew about the investigation, right? >> we did. but this is adding to the concern investors have. accusations by macron against a chinese company are part of the d.o.j. case. it i

i bought nvidia. >> rolling again. >> but it's not 133. yesterday on the lows brian 133. popped up to 154 n the individualia. >> asking he joe, on a scale of 10 backup 10 being all important. some people say the fangs are all important. some people say just stocks. how much do they matter? given the market if if tries to recover do we need nvidia apple and others. >> i give them more import than just stocks. joe says they are everything not that but they are important however, i thought the move out of amazon from 1,400 to 1520 now 1540, 1550 something like that that's a big move and held almost all of it yesterday that move as well as nvidia josh and i were talking about, those are two i noted that i thought were important. >> it's easy to trade in the moment when you have moment up, a well defined trend, whether up or down. and momentum is a strategy clearly in the last six weeks that -- that strategy is no longer working and if you are in an environment where the momentum strategy is no longer working then it's difficult to define a trend. and i think a lot of what we

nvidia i thought was overvalued. i was wrong. i sold my stock at $80 that's hurt the others do i think it's an expensive year, yes. selling at half its growth rate. >> who thinks we're at or near the end of the correction we went through do you, jim? >> listen, the honest answer is i don't know because, to me, it is all keyed on negotiations with china and it could go either way, scott. the buenos aires meeting, we'll probably get some hot air. >> i'm positioned for it i have 10% cash in my portfolio which means i'm 90% invested if i see things getting worse in china, i'll raise the cash it's data dependent on what goes on with china. >> if not tech, what will lead, kevin, if you do have a run? >> the narrative is changing this is my call, what i've been doing. stocks have trailed, and now the quality of earnings, now cash flows, now reduction of debt starts to matter all of a sudden the most boring names are outperform the j&j, that kind of thing, a mobile balance sheet in energy the most boring names are outperforming the indic

dropped below the five thousand dollar mark like a stone and that its effect in chip makers like nvidia who are supplying chips for this industry and video stock being down by more than ten percent in the monday's session alone and that we shouldn't forget tech stocks were the main driver in the first half of the year but now investors are selling heavily into that industry situation that is certainly worrying many thank you very much since carter for following the story for us in new york. and of course we'll keep track of the tech stocks in the coming days here on the w. business continue to france now where protests against the introduction of higher fuel prices continue supporters of the movement called yellow warning vests blocked highways and traffic junctions causing of course problems in transit they are mainly directed against higher taxes on diesel and petrol hundreds of people were already injured in similar actions over the last week and fuelled by indignation these protests in northern france are among the hundreds of thousands of people who took to the streets to express t

, bringing the chips down overall, seems to be a bit of a headwind for nvidia. tesla is down 2.2%, ubs has come out saying that those gross margins were helped out by electric vehicle credit, trying to throw cold water on that hot quarter right now. shares are responding, but still well above where they were when the report happened. the broaderk at index, nasdaq composite, this is highust large cap, but the data stocks that had investors fleeing at signs of risk off. over the last year we can see signs of a sideways uptrend transforming. earlier this year we had volatility of horse and when it compared to the recent selloff, we see the steep declines here. we have a 50 day moving average crossing below the 100 moving day average called a death cross. the real one would be below the yellow, but both are slowing down, it's pretty bearish. there was a brief one earlier this year but a different situation that may suggest that more selling is to come. where is the money going, vonnie? the consumer staples defensive sector, up 1% along with a number of these names.

been performing there is verizon, clorox and then there is the rest of them going into the weekend, nvidiap more than 50% of its highs. i am hearing people say it is a reset. and others describe it as a change in the narrative. after a soft quarter it is an evisceration of propounding proportions. is that a correction a reset? i would say that is a major part of the ongoing bear market ibm treated at 171 in january, and now it is 117. in a bear market, it goes down every day on the same news goldman sachs traded at 243 in august at these levels, what wouldthe darn thing be worth after liquidated sure there is a supervision issue, there has to be a supervision issue. management dropped the ball. i can't believe how goldman sachs can't get out of the story, and i can't believe how this stock can be this cheaper you better believe breathe a sigh of relief crucial upgrade from jeffreys. remember, used to call the four horseman from bio tech the upgrade thesis was incredible cell gene trades at a mere 6.4 times. make crone stock traded four times the earnings and everyone said that is ridiculou

nvidia is down 43% in five weeks.the kind of carnage that i always felt these names were vulnerable to. so at this point i think they remain overpriced. you mentioned all the other political problems going on. it is not for us. stuart: very interesting, david. one more. as you know i'm sure, bernie sanders rolled out the stop walmart act t would block big companies buying back their own stock unless they pay their employees 15 bucks per hour. i don't like this. i don't think it is going anywhere. i don't like it on principle. i don't think politicians should be legislating what a workforce should earn. what say you? >> yeah i don't think it really worked really well in the old soviet union either. i don't think it was popular in libya. venezuela is not really act selling in such a an idea. this is not something that can be discussed only on a basic market, and invest economic level. this gets to the core who we are as a country, what we believe idealogically about free men and free markets. that is completely anti-ame