Tracking Today’s Losses, Federal Reserve Chair Jerome Powell’s Comments Hit Equities & Let’s Talk Taper

TechCheck

CNBC

Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.5 • 66 Ratings

🗓️ 30 November 2021

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors kick of the morning with CNBC’s Mike Santoli as the market begins dropping after a short-lived rally yesterday. Then, Wells Fargo Chairman of Global Internet Investment Banking Bob Peck is here to further discuss the market, M&A activity, valuations and much more. Next, we listen in on Federal Reserve Chair Jerome Powell’s testimony before the U.S. Senate Banking Committee. We also have CNBC’s Steve Liesman cover Fed Chair Powell’s comments that the central bank may accelerate its taper of bond purchases. We bring in Yardeni Research’s Ed Yardeni, Wilmington Trust Investment Advisor’s Meghan Shue and Lafayette College Endowment CIO Krishna Memani to further discuss the sell-off, how it changes their playbooks and how the new COVID-19 omicron variant plays a role. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Dear Jrabosa and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:08.0	Good morning and happy Tuesday. Welcome to Tech Check. I'm John Fort with Carl
0:11.6	Kintenea and Dear Jorbosa. Day two of Cloud Week is a big one. You'll hear from the new head of
0:17.4	AWS. Andy Jassy's successor, Adam Solipsky,
0:20.9	in just a moment.
0:21.7	Plus, be there or B Square.
0:23.6	Why Bank of America says Jack Dorsey's departure from Twitter
0:26.8	will do wonders for his other company.
0:29.0	And finally, a short-lived rally,
0:30.9	tech coming off its best day since May,
0:32.9	but falling again this morning with the rest of the market
0:35.2	over COVID uncertainty.
0:36.9	Apple, the only big stock
0:38.3	that I'm tracking that significantly higher. Plus, we'll get an update from the Fed chair.
0:45.3	Oh, Carl. You're right, John. Big leg lower here now, down almost 560 points. We're going to start
0:53.7	our feed with the markets. As we said,
0:55.3	stocks are dropping on those comments from Fed Chair Powell. In his view, it is appropriate to consider
1:01.3	wrapping up the taper of our asset purchases, perhaps a few months sooner. Who better to break it
1:06.2	down for us than our senior markets commentator, Mike Santoli? Mike?
1:09.2	Yeah, Carl, clearly investors thought that this new COVID threat probably would have bought
1:14.8	them a little bit more slack in terms of the Fed moving ahead with their removal of accommodation
	...

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