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Nearly six weeks after the union began a walkout. And Morgan Stanley says it has its new future leader. Dont miss a first on cnbc interview with ted pick and current chief executive james gorman lets begin with the nasdaq which is set to fall deeper into correction territory the ndx coming off the worst day of the year. Now down 11 from the july highs. It looks like the mega caps are catching up to the decline of Everything Else i think theres an overwhelming sense that they all went too far. That they all got overvalued i do not share that. Well get to meta. These are not ultra expensive stocks, theyre a couple turns in pe. Theyve become major sources of fund i think its more correlated with the bond market than earnings yes, google did not tell a good story, it wasnt like they missed big meta, otherthan a few lines that were about meaningful spending, meaningful hiring and also obviously difficult to advertise when you have a wash, it was quite good. Now, the stock is down literally

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