I'm Deerreboza, and you're listening to CNBC's Tech Check.

Our show is live weekdays at 11 a.m. Welcome to Tech Check. I'm Carl Kintania with John Ford and Dear Drubosa.

Today, tech continues its fall. Rising yields weigh in on the NASDAQ coming off the worst day since mid-December or so. Fintech and

cloud are some of the hardest hit sectors. China stocks haven't faired much better, although

turning around this morning, have we hit a bottom or should investors put their money elsewhere?

We'll discuss. And then Consumer Tech Week continues here on Tech Check, got a big hour ahead.

Interviews with Qualcomm, CEO Cristiano Amon, Amazon's Head of Devices and Services, Dave Limp, and another exclusive with the CEO of HP, Enrique Lores. All that is coming your way in just a moment, Dee. Yeah, big show coming up. We're going to start, though, with some negative sentiment for tech, and that's really a continuation of what we've seen the first few days of this year.

The NASDAQ falling more than 1% as the 10-year Treasury rose as high as 1.7% yesterday.

UBS is among those bearish, downgrading the tech sector to neutral, specifically citing tech hardware,

but also putting out some notes against software names, downgrading

Adobe and Salesforce, as they worried that front office and sales and marketing spend was pulled

forward over the last couple of years. So they say that growth rates could be under pressure

in 2022. They do recommend Microsoft and Service Now as potential defensive plays given current rates.

Let's bring in Mike Santell Santoli.

Mike, as we look across this tech landscape today, yes, the NASDAQ underperforming,

but within this sector, we continue to see these legacy names.

Perhaps provide more value, which is what they're looking for early this year?

Yeah, I mean, it's obviously running from expensive, over-owned, crowded big-cap tech

names into areas that maybe seem a little bit less recognized, less exploited.

You know, the most positive net beneficiary to the NASDAQ 100 today is Intel.

And so that gets right to your point. Microsoft, the biggest negative. Now, Microsoft's down

4.5% in the three days of trading this year down, you know, a little more than that off of its

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