The Big Tech Takedown, And the $67 Billion Question for Airlines

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 17 September 2020

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Major tech names are down double digits from their highs hit just two weeks ago, and one market watcher says the Nasdaq could be in for another 20% drop. Plus long-time tech analyst Steve Milunovich tells us what he thinks is next for the sector. And airline executives headed back to the White House in search of more aid today. But just what will that help buy the industry?

Transcript

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0:00.0	I'm Melissa Lee and this is Fast Money. Tonight's trader
0:03.8	I'm Tommy Tim Steemore, Karen Finnerman and Dan Nathan.
0:06.6	Tonight on Fast, a trillion dollars September to remember the major warning
0:10.4	from one market watcher why he is calling for a 20% pullback in big
0:14.1	tack plus for topping the tape today the automaker giving new details on its
0:18.0	all-electric F-150 pickup how our traders are playing this name and later
0:22.1	airline CEO is back at the White House today
0:24.7	looking for more money but we found 67 billion reasons why and that might not fly.
0:29.9	We begin tonight with breaking news on the bank.
0:32.6	Let's get straight to Wilford Cross with all the details.
0:34.8	Will.
0:35.8	Hey, Minister, yeah, so as we were just discussing on closing bell,
0:38.2	the banks, finding out this evening what this extra stress test
0:42.2	that they'll go through this fall will be in the particular terms of it.
0:46.4	There will in fact be two severe recessions they'll be tested against as opposed to normally
0:50.8	one, but it's possible that we could interpret those severe
0:53.8	recessions is not as bad as they could have been given what a crazy year
0:58.0	we're in of course they're always tested against a severely adverse scenario
1:01.8	the one that they were tested over the normal stress
1:04.1	and June saw unemployment for example spiking to 10%. This test has two versions of
1:10.0	the unemployment. One is that it spikes to 12.5% and then dips more quickly to
1:14.4	seven and a half the other one is that it spikes to 11% but then dips more slowly
	...

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