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CNBC's "Fast Money"

Markets Sell Off: How to Trade the Big Tech Pullback

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 28 September 2021

⏱️ 41 minutes

🧾️ Download transcript

Summary

Markets seeing their worst day in months, with the Nasdaq dropping nearly three percent, its biggest decline since March. The traders discuss how they’re playing the pullback, and where they see markets going from here. Plus why one top investor says there may be more selling ahead -- what he’s doing with his money now. 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

tonight on fast stocks rocked as a major sell-off grips wall street the doubt plunging 570 points

0:11.6

putting the market on pace for its worst month of the year coming up with breaking down

0:15.6

the aftermath today's sell-off and fun you opportunity in this big drop welcome everybody

0:20.1

I'm a Lissley live and as I mark it's I didn't time swear tonight's straight line up

0:23.5

guy dummy Tim Seymour Karen Feynerman and Dan Nathan let's get right to it and we

0:27.9

start off at ground zero of today's sell-off a rate shock sinking stocks just take a look

0:32.7

at the Nas Act today the index dropping nearly 3% of for its worst day since March this

0:38.2

comes as a 10-year yield spike to its highest level since June so let's break down the

0:43.8

action what you make of the sell-off today guy interesting orderly make sense again I've

0:51.2

thought this was going to happen for a while and I've been wrong in that thought process

0:55.0

but now we have a two day period of time where you start to see some of these things

0:58.8

come to fruition you know I still believe 10-year yields are going significantly higher

1:03.1

from the levels that we close that today I think inherent in that belief is a big tech

1:07.6

sells-off and resources energy and banks do relatively well and I'll stick by that

1:13.2

but in terms of the sell-off again I don't know why over the last couple days the market's

1:18.5

choosing to acknowledge all these things in the form of yields a dollar rising in the market

1:22.3

going lower but it finally is and it makes sense to me Karen I'm not quite sure what

1:29.8

to make of it because there's a lot of things that you can point to to me that seem to add

1:34.6

a little bit of fuel to the fire so clearly rates then there's the question of is rates

1:39.4

a function of the expectation of the economy getting better or just fear about inflation

1:43.6

not being transitory and maybe this is getting away from the Fed that's one fear that's

1:48.1

not a good one I think that Warren's comment about power being a dangerous man actually

...

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