I'm Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern, listen in. Good Thursday morning. Welcome to Tech Check. I'm Carl Keettonia with John Fortin. Dear Dubosa. Today, stocks are falling fast off the CPI print, although off the lows, as we've said. Inflation running hotter than expected. Nasdaq down less than 2% now. We're going to watch it.

The White House Council of Economic Advisers chair Cecilia Rouse is going to join us this hour.

Break some of that down. We'll also turn to hardware, consumers and businesses cutting back,

and we'll take a closer look at the impact for Apple in particular.

Finally, we'll speak with the Airbnb CFO on the picture for travel demand

and how inflation is hitting that sector, very busy day and busy hour. But first, our Mike Santoli

is going to join us to break down CPI, the impact today on stocks, volume, VIX. There's a lot to

watch here, Mike. Yes, a lot of stuff was already moving pretty hard in one direction. We got an accelerant at the open. How do you make a 1.5% drop in the NASDAQ feel okay? Start out with a 3% drop in the NASDAQ. That's basically where we are. But we're down enough that you have to look at a longer term chart to really situate us in terms of where we are and how far back in time

we have. Here you go. That's the pre-COVID high in the NASDAQ 100. It's around 9600, between 96 and

9700, down 1,000 points from here. But you know what? We went down 1,000 points in the last 10 or so

trading days in the NASDAQ 100. So you're kind of in the zone there

of going back to those pre-COVID levels. Of course, a ton of stocks, maybe half of all stocks are

below a pre-COVID peak right there. We did kind of lose out on some of those other areas I was

looking at more like in the two-year round-trip range that would have brought us back to sort of before

the 2020

election. That was a correction we had right there. Apple continues to be this big story.

It's kind of a sector or an asset class of its own. It's diverged so much. So this goes back

a couple of years to show from the end of 2020, I guess, this goes back to show how the equal-weighted NASDAQ 100,

the average big growth stock in the NASDAQ, and Apple were more or less in tune until the overall market peak,

until the NASDAQ peak, and then Apple became something different.

It was a safety play.

Now, it is threatening those lows we had from earlier

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