I'm Dear Drabosa, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in. Good Thursday morning. Welcome to Tech Check. I'm Carl Kintenea with Deerbosa and John for today. The post-fed hangover. Stocks are lower, especially tech, Apple, Amazon, and video down more than 3%. We'll talk about the market ramifications. Plus, the CEO T-Mobile as that company looks to expand coverage in the face of inflation and a possible weaker consumer.

And then crypto, the so-called canary in the coal mine.

We got the CEO's Silvergate, the company loaning micro strategy, those millions, to buy more Bitcoin.

But let's begin with the market. Close to session

lows here. We lost 30K earlier this morning. 3663. Mike Santoli, and the week's not over.

No, Carl, it's pretty indiscriminate today. The NASDAQ, yes, is slightly underperforming the S&P 500,

but really not that much. Actually, the breath on the NASDAQ is not even as nasty as it is on the New York Stock Exchange. But here's the NASDAQ 100. You now have this from the highs down by more than a third, more than 33 percent intraday basis. Remember, the high for the NASDAQ 100 goes back to November, not January 3rd with the S&P peak. And I'll just point out, I mean, it's been a very, very steady downtrend. And maybe you can look at that and say, okay, if this is a channel that we've been trading down, then we're certainly at the lower end of it. Maybe you get some relief. But clearly the direction of travel has been pretty clear right here. We are now in the mode of looking for, you know,

just really conditions that seem so bad, such liquidation that maybe finally gets fairly

climactic. We haven't necessarily gotten there yet. Take a look at a longer term charter than

NASDAQ 100, going back three years. So this goes back before the pandemic. You actually have lost more from the peak in the last several months than you did in the COVID crash.

The COVID crash right here was just over 30 percent intraday peak to peak. A couple of numbers I'm kind of keeping an eye on.

You know, after we got that huge momentum surge in the NASDAQ off of the

low of COVID, you did have that spike in early September. Remember that Apple splitting in stock?

Tesla splitting its stock. Then a pretty good correction that we got into the election. So you're

kind of going back to the lows of that correction. Not clear if that's going to be significant.

We have also lost more than half

of what was gained from here to the peak. So look, a lot of damage done, a lot of that valuation

premium swept away. A lot of folks saying so many things have gone back to pre-pandemic levels,

do the big NASDAQ stocks need to do that. Certainly unclear. Valuations if the earnings hold up,

but for what it's worth are back to pre-pandemic or actually below the pre-pandemic peak, guys.

Maybe this is a dumb question, but why are the first two hours of trade so far today so different from the last two hours of trade yesterday?

Is it Europe's reaction that's being factored in here?

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