A glitchy start. Microsofts Online Game Service is hit by an outage on the same day it introduces its newest xbox gaming console. We talked to the head of xbox this hour. U. S. Stocks dropping amid a selloff in big tech tuesday. Amazon among those caught up in it, falling as the ecommerce giant facing an antitrust complaint from the eu. I want to get to Abigail Doolittle in new york. Walk us through the factors dragging stocks down today. Abigail another mixed today. Another down day for tech and the nasdaq 100 in particular, having its worst two days in two months. You have other index is doing well such as the russell 2000 and other cyclically minded sectors. Nasdaq down for the second day in a row, the worst slide since september 8. Investors want out of this years stayathome trade. The russell 2000 gaining an alltime high as investors charging forward into the reopening trade. We have seen this playbook so many times this year, inout, inout. As for what was dragging on technology,
Is the first air travel bubble of its kind. There we go. We should be watching airline stuff as well but a lot of that thisready priced in after bubble was announced a few weeks ago. A have a look at the tech index here. Alibaba and tencent on the market at the moment. They are taking 179 points off the hang seng index itself. That is as we are seeing this rotation out of tech stocks, a global phenomenon at the moment. This will be because of the regulatory challenges we will be facing through some of these online retailers. Juliet . Juliet lets get Market Analysis with patrick, the global asset strategist. Patrick, we are finally getting this news of this travel bubble between singapore and hong kong. This is one thing that investors have been looking for when we start to see Global Travel open up and how that will feed into the energy markets. Lets get to our question of the day. That is when will crude back to these march highs . What is your view . Patrick morning. We are not speci
Good morning welcome to squawk box. Im becky quick with Andrew Ross Sorkin and joe kernen. Welcome back both of you some big moves we are looking at today. Lets look where things stand with the markets dow futures are off by 34. The big news is happening with technology stocks. Down 343 points. Thats big you are talking 3 of the market or 3 decline for the index. Thats a big deal when you look at what happened last week on thursday, nasdaq was off 5 on friday, another one and a quarter percent. You are taurking 6 and a quarter decline. Because of what is happening with the biggest stocks in that. Tesla indicated down 11 in the premarket Asml Holdings down nvidia down advanced microoff off 4 . Those that have boosted that weve seen selling off today you are still looking with these declines at a market at higher levels weve run up quickly and we are seeing it now joe. Watching it head higher watching it ever day, we are like this tech stuff is insane benefitting from what we are all liv
Whatsoever theyre pure slight of hand. Do i have more pencil . Stocks are also exactly what we need to help keep this market moving higher like we did today with the dow gaining 290, s p jumping and the nasdaq 2. 13 because apple and tesla gave you fantastic news about what it should be a 4 for 1 and 5 for 1 stock split respectively again, no new value but boy, do people love it theres a reason we have to feed the bull with more nourishing stock blitz and ill tell you why. Years ago individual investors deserted the stock market with the implosion of 2000, 2001 and financial crisis of 2007, 2009 they gave up on the asset class and started tiptoeing back, looked enticing and something would go wrong 2015 mini crashes. But in the past few years, beaten down individual investors, a lot of younger investors intrigued by low to no commissions. Finally started buying stocks again. Despite all the gray beards telling you its impossible to beat the market, despite the supposedly brilliant Mone
It is extending its emergency Lending Program. Twoday meeting coming to a close today and fiery hearing on capitol hill between william barr and democrats. The hearing appeared to have more questions than answers at least that were allowed. Ag had a question of its own, how long will we let cities burn. Federal agents pulling out of seattle now. Other cities following on spike of violence. Gulleny giuliani this morning. Its all here right coming up. Markses this morning meanwhile look at this, fractional moves as stimulus uncertainty and economic hit companies are taking due to coronavirus, few losses on wall street yesterday, s p 500 up 7. Plus stores using facial recognition, what you need to know about information being gathered from your image. Mornings with maria is live right now. Global markets this morning are mixed, take a look at european indices with ftse 100 up 20 points, dax index lower by 15 points in germany. In asia overnight markets mostly higher, take a look, coronavi