First we get to the stunning losses suffered by stocks that were once star performers, mostly tech names left for dead by investors, crushing the nasdaq this hour. All of it raising the question of what the death of momentum means for investors. Josh brown, we say stunning. Take a look at the wall. Linksin down, netflex, splunk, workday, amazon scott, scott, i havent taken my pill yet. Lets slow down. Its just becoming more visible. But this has been happening for the better part of 18 months. Now its hitting the cool kids. I hate to say it, but they have more a lot lower they can go. Starbucks, one of the most popular is below its average today for the First Time Since october 2014. Facebook is into the postearnings gap down 12 off the high. This is just beginning for some of the names. It has been taking place for most of the market. Quite frankly, most of the world for quite some time. I wouldnt be falling out of your chair at this point. You bought linkedin today, you must see some
172. Of course the jobs number and the wage component of that jobs number is the big story of the day. Some are arguing its putting a march rate hike back on track. Well have to see about that. Nech linkedin now almost a 40 decline. Profit and revenue actually beat estimates, but the forecast for 2016 was weak. And that is pressuring the stock this morning. Jo jon, ill turn to you first. There is no mercy this time away. There isnt on linked in. But i want to broaden it out first and say i see nine tech stocks that i track. Sizable stocks down 9 or more this morning including workday sales force, Palo Alto Networks, net sweep, workday, splunk, linkedin, tableau. So this isnt just a linkedin story. It seems like perhaps an speaker prize spending story. We heard a little bit about this from your more traditional players from intel. And now there seems to be even among these momentum names some of that same Enterprise Spending story between linkedin and tableau, hearing about existing cus