Right now on fast, President Xi's tightening vice grip sending shockwaves to markets here

and in China.

mainland names like King Duoduo cratering while U.S. brands of big exposure like Starbucks

and Tesla falling to is conflict now replacing capitalism and the fracturing relationship

between the U.S. and Beijing.

Plus, Payne Metta's painful pivot, all the spending and hiring around the Metaverse

has pushed the stock down over 60 percent this year, and one big investor is saying

to mark Zuckerberg enough, is he right?

And later, building a foundation, one of our traders making the case that home builders

might be ready to weather the coming economic storm better than you'd expect.

I'm Melissa Lee, this is FastFoney, last in the Nasdaq Market site on the death's

night.

Karen Feinerman, Dan Nathan, Diadami and Jeff Mills, and we start off with the China

plunge heard round the world, the K-web Chinese Internet ETF dropping more than 13 percent

to an all-time low-putting in its worst days since it started trading nine years ago.

It is now down 80 percent from the record high hit just last year.

The China Large Cat BTF, the FXI, dropped over 9 percent, is on pace for its worst months

at September 2011.

Among the biggest losers in the region, Pindu Oduo, online recruiting company Kanjun,

and Fintech firm 360 Digitech, tech stalwart Ali Baba, dropping 12.5 percent touching

its lowest level since IPO-ing in 2014.

But it wasn't just companies based in China that got hit, Starbucks, which counts China

...