Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer, David Faber, Post 9 of the New York Stock Exchange.

Future is pretty solid as some mid-east tensions ease. Oil falls below 83. The House passes some foreign aid.

And we get set for a third of S&P market cap to report earnings this week.

Our Robap's going to begin with stocks aiming to rebound following the S&P's worst week of the year.

Investors gearing up for that flood of earnings headline by Big Cap Tech.

Speaking of tech, Tesla is slashing the prices on several of its vehicles.

That's, of course, hoping to boost sales.

The stock is on pace for what would be its seventh straight day of losses. It's down 20% in this

month alone. And the House passing legislation over the weekend that could lead to a ban of

TikTok in the United States. Let's begin with the markets after last week's tech sell-off.

You now have 29 of the NASDAQ 100 components down 20% or more below their 52-week highs,

more than three-quarters of the NDX falling at least 10% from such highs, Jim. Friday,

the equal-weight S&P relative to the cap. We best day in a few years. Yeah, you know, we saw something really interesting on Friday. We saw this super micro down 25% that it's an analog to, I viewed as an analog to video and media's got much higher intellectual property. That's because it announced when his quarters coming, and this is for the first time. The seven out of eight quarters, they have said, hey, we're doing better than expected. They didn't do that. It's kind of very simple to what happened to Broadcon. Broadcom on April, I'm sorry, Marche has said the same thing. They did not pre-announce. You go back to that period, David, the unemployment number that Friday, that's the first time the pal got it wrong, big wrong, and interest rates shot up.

I think this move is largely an interest rate to move.

It could be reversed by earnings, but only if the tenure stays at 4-6, 4-7.

And I don't know if that's going to happen.

Okay. I mean, I think it's bonds. I think that we all think it's stopped, but the high multiple stuff is what's going down and that's controlled by bonds. Right, you just think that as long as we, what's the level, as long as we say above four or five, fours? We can't go above four seven. If we go above four seven, then every stock you see right there, no matter what the report is going to be hurt. And that's, if you look at Invidia, that is obviously the Post report for the decline. And, Carl, Invidia is the king of AI. So what this really is is a revolt against AI because the stocks, know, and Amazon's not being felt that badly,

and Alphabet's not being felt that belly. You know, they're users of Invidia, but

Nvidia is the metaphor for a company that got too high.

Worst day on Friday since 2020. We talked about the Barron's cover, Jim, on Friday,

and how they argue that competition's on the way.

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