Nora Melinda

You're really seeing a crackdown right now on the tech sector.

If you dig into the S&P 500 information technology, that sector alone, the worst performing group in the S&P 500.

So what I'm hearing from my sources is, yes, we are seeing an acceleration of this sell off, but it's really focused on the tech space.

It's a rotation that we're seeing.

President Trump speaking to reporters on Air Force One.

You're really seeing a crackdown right now on the tech sector.

If you dig into the S&P 500, information technology, that sector alone, the worst performing group in the S&P 500.

So what I'm hearing from my sources is, yes, we are seeing an acceleration of this sell-off, but it's really focused on the tech space.

Well, this is really major for the market, especially as we see so many people fixated on another place to essentially put their money for the artificial intelligence play.

Everyone really even concentrated in NVIDIA.

This is a name that people are saying could potentially be a competitor to that.

Bloomberg's Nora Melinda.

The idea here is that people are trying to find a where, a place to put their money where they can bet on the future and not necessarily put it in some of the names that we've really been seeing driving this market like Nvidia.

So you're certainly seeing people thinking about diversification right now in this moment.

So clearly a lot of people on the street really digesting this and I'm sure we'll see some really strong numbers throughout the day.

We really haven't seen a resolution as we think about the back and forth between Democrats and Republicans as it already relates to funding.

So it's actually a bit unclear as to whether or not...

President Donald Trump actually has the unilateral authority to make this happen, especially because it would be essentially bypassing or circumventing Congress.

And so we'll have to see because they typically are the ones, of course, that weigh in on any sort of federal spending.

Last week was quite the week.