Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street. Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintzineo with Jim Kramer at post 9 of the New York Stock Exchange. David Faber has the morning off. Stocks do look to add to Tuesday's losses. Worst day for the NASDAQ since July. Second worst day of the year. Mviti is down another percent. The two-year yield at a 16-month low.

Robamp begins with this tech-fueled sell-off.

S&P clocks its worst day since early August,

but there are areas of opportunities some say to buy the dip.

Invidia is under pressure again after the biggest one-day market cap wipeout

for any U.S. stock in history, the chipmaker reportedly now

facing that escalating DOJ antitrust probe, and the state of the consumer, Dollar Tree, and Dix,

the latest to deliver some cautious guidance. Let's begin, though, with the markets after the

sell-off yesterday, Jim, looking at what you wrote this morning. It doesn't sound like you think

this is a growth scare in the

classic sense. Exactly correct. I feel like there are many situations that are individual in each

sector. For instance, just take last night C-scaler, people saying, because Jay Shardry's going to be on later

afternoon saying he's very cautious on billings. Yesterday, we have a lot of people saying, okay, super micro is really in trouble. We have another super micro cut. Intel, obviously, very, very troubled. So it was not just Nvidia. We all make it sound like that Nvidia's the sun and everything revolves around it. But there were a lot of negatives yesterday. They were all individual negatives. In video, I've been saying let it come down. Look, I love Invidia. Everybody knows that. I hate the love. I shouldn't say it because it's just a stock. But I've been saying ever since the quarter, you've got to let it come down. And don't be a hero in this. I mean, I tried to compare to last night to The Cowardly Lion, who, you know, counting you guys to stop me basically before we go into it.

And I feel that that's the way it is. I really do.

We talked yesterday about the Michael Semblis note out of J.P. Morgan.

That was the factor.

Not just the argument that competition is coming for NVIDIA and their historic margins

and market share, But it sounds like he

thinks there should be more progress by now on some of these use cases. Okay, I think that's

really great because there are a lot of people who told me why it was down yesterday. And they

were all wrong. I mean, it's down because Michael Sembless is one of maybe the most powerful

strategic thinker right now on Wall Street.

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