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CNBC's "Fast Money"

Big Tech Gets Wrecked and the Future of Facebook as an ESG Play

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 4 October 2021

⏱️ 43 minutes

🧾️ Download transcript

Summary

Markets plunged to start the week with the five biggest stocks in the U.S. losing a combined $236 billion in market cap today alone. So is there more pain to come, or is this an opportunity to do some bargain hunting? Plus, a damning whistleblower report and widespread outages send Facebook to its worst day in almost a year, but the stock remains a favorite in the ESG space. We break down why. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

Live from the Nasdaq Market site overlooking New York City's Times Square.

0:02.8

This is Fast Money. I'm Melissa Lee.

0:04.6

Tonight's Trader lineup, Guy Adami, Tim Seymour, Karen Feynerman,

0:07.8

and Pete Najarian, co-founder of Marketabellian.com.

0:10.4

Tonight on Fast, outage and outrage.

0:13.0

She Facebook shares plundering nearly 5% as a whistleblower sounds the alarm,

0:17.3

and the company is hit with a massive service disruption.

0:20.3

We're breaking down the fallouts straight ahead, plus delivering gains.

0:24.0

Tesla holding in the green despite today's sell-off will bring you the big number

0:28.1

that had investors driving into this stock.

0:30.2

And later, Karen, ringing the register,

0:32.4

the one retail name she hit the sell button on today,

0:34.8

she'll tell us what it is and why it's time to bag it.

0:38.6

But we start off with a major sell-off on Wall Street,

0:40.6

the S&P dropping more than a percent, the Dow down over 300 points.

0:44.5

The tech-heavy Nasdaq plunging more than 2% posting its lowest close since June.

0:49.5

And take a look at the hit to the biggest names in the space.

0:52.2

Apple, Facebook, Amazon, Microsoft, Google,

0:54.9

losing a combined $236 billion in market cap today alone.

1:01.2

So is there more pain ahead?

1:03.6

Do you go in and start buying?

1:06.2

Guy, what do you think?

...

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