I'm John Fort. You're listening to CNVC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good Wednesday morning. Welcome to Tech Check. I'm Carl Kintenea with John Ford and Julia Borsden. Dear Durbosa is off today. Today, global risks skirting a rebound, the latest on Russia-Ukraine tensions and its impact on your portfolio. then the tech sector may still be in quote growth purgatory but some names might have

bottomed our first guest this hour breaks its impact on your portfolio. Then the tech sector may still be in, quote, growth purgatory, but some names might have

bottomed.

Our first guest this hour breaks down stocks you might be targeting in tech.

And then later, Elon Musk emails CNBC.

That exclusive exchange and the rift between the White House and Tesla is coming up, John.

Yeah, and let's start with correction in stocks and NAS-Dak now lower by more than a half a percent, giving up early gains.

Domchew's got more on the mega-cap meltdown we've been seeing with bang names now more than 20 percent off their highest.

So, John, I mean, we started off looking like we might catch a bit of a bounce after yesterday's sell off. However, it has now brought that NASDAQ trade, at least the biggest ones in the NASDAQ, the NASDAQ, as represented by the QQQETF. You can kind of see here over the course of the past year, just how the trading patterns has been over here now, though, if you look at the way

things have shaped up, that QQQ is now back into that area where we're roughly 18% below

the highs that we saw the record highs earlier this past year. And then the S&P 500 back down

about 11% below its record high. So again, in that so-called correction territory that some

traders look at.

Within that technology overall trade, there have been certain pockets of isolated real weakness in

that. One of them is in some of these internet or kind of e-commerce related names. The first

trust Dow Jones Internet ETF, ticker FDN, is one of the bigger ETFs that tracks it. It's now down just about a

percent on the day so far. But what's important here is that downside that we've seen over the

course of the last several months has been due in large part to big weightings in companies like

Amazon.com, also Alphabet and meta platforms and Netflix in particular, some of the bigger

weightings in this particular

ETF, so it speaks to that fang trade and that weakness there. Within other parts of technology,

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