I'm John Ford. You're listening to CNBC'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 Cantanilla with John Ford and Dear Drbosa.

Today, just hours ahead of that big Fed decision. We've got the top tech names you might consider buying and avoiding ahead of more interest rate pressure ahead. The crypto crash continues as Bitcoin falls nearly 30% in a month we will discuss.

And then finally more target cuts for Apple ahead of a big union effort in Maryland.

A look at why Morgan Stanley is getting a little bit more bearish this hour deep.

And meanwhile, Carl Lenazak is seeing a pretty good bounce today as investors side that potential hike from the Fed this afternoon. There's so much volatility. So where should you put your money to work? Domchu joins us with a breakdown of some defensive names, Dom. I say the NASDAQ is rebounding, but still down, what, 8.5% over the last week? Well, not just that. Defensive is a relative term when it comes to stocks, and especially when it comes to the technology,

communication services, and consumer discretionary sectors of the market. Three of the worst

performers in the S&P, by the way, over the course of this last kind of year-to-date period.

Now, interest rates play a huge part of that

discussion, which is why we're talking about those technology-related stocks in regard, with regard

to what's happening with interest rates. Because if you look at the 10-year Treasury note yield

versus the Invesco QQQT trust, one of the things that you want to focus on is just kind of like that

inverse relationship that we've seen. Remember, the white that you want to focus on is just kind of like that inverse relationship

that we've seen. Remember, the white line is no yields. As they have gone higher, we've seen the

value of the NASDAQ, specifically the QQQ, which tracks of NASDAQ 100, go lower. So interest rates hitting

growth stocks, that's a huge part of the story. With regard to that last year's worth of market action,

in that NASDAQ 100 trade, the stocks that have now kind of taken the biggest hits, the growth

concerns, the valuation concerns, maybe no surprise are the ones that had some massive runs

during the pandemic to the upside on great expectations and low interest rates.

DocuSign has lost three quarters of its value during that time,

Zoom video 70% and 65% for Netflix.

We know how bad it's gotten.

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