I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good Monday morning. Welcome to Tech Check. I'm Carl Kintania with Dear Grubosa and John Fort.

Today, more tech carnage, session lows for stocks, mega-cap names like meta, Amazon, alphabet, and Microsoft all down more than 3%. The opportunities in the sector with the NASDAQ debt now nearly 20% off the record high.

Then payments platforms withdraw from Russia.

PayPal, MX, Visa, MasterCard joined the Exodus.

And then later to the moon and beyond.

Game stops Ryan Cohen makes another meme bet, John.

Yep, but let's start with stocks.

Tech sector is down 2% back to the lows of the year.

In fact, the XLK ETF touching levels it hasn't seen since last summer.

Mike Santoli is here to take a look at the macro headwinds for tech.

Mike? Yeah, John. And And of course, the broader market,

too, is trading at levels that we first saw back in late June, as is the S&P tech sector. This now

qualifies as a, you know, six or eight months consolidation in this market. We have this,

what I would call a compound correction. So we had the ongoing valuation adjustment

in growth stocks that got underway, let's say last December, alongside, you know, embracing for Fed

tightening, all these things we know about. Now we have this geopolitical and oil shock on top of it.

Arguably, if you look at the history of these geopolitical shocks, they usually mean six or eight

percent downside over several weeks. We'll see if we've already priced in a lot of all that. But take a look at the history of these geopolitical shocks, they usually mean six or eight percent downside over several weeks.

We'll see if we've already priced in a lot of all that.

But take a look at one other element here, which is, you know, the growth stocks, as reflected

in the NASDAQ 100, are not acting as defensive assets relative to where bonds are right now, too.

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