Robert Peston

If you're looking at a five-day stretch, the NASDAQ is currently flat as a pancake, as we might say over in the UK.

But at the moment, we are still seeing this questioning, questioning of valuations, questioning of sustainability of capex spend for the big AI players, questioning of what the Federal Reserve does next.

So we dig into key assets that have seen volatility this week.

But I'm looking at crypto has been in the eye of the storm.

We're off by 7%, let's call it, on Bitcoin more broadly.

We're seeing a lot of pullback in terms of the ETF buying.

We've seen another more than $800 million washed out in terms of outflows from those ETF products, Ed.

The mood music of the market has changed this Friday in the context of technology.

Best laid plans, I was going to tell you that Tesla and Nvidia were two of the biggest decliners, actually both now in positive territory.

But over the course of the week, probably Nvidia more than any other has had volatility, starting the week with a really big jump, then declining on news flow.

Actually, in aggregate over the course of the week, it's basically flat.

But then there's the Super Bowl next week with its earnings.

Are we really talking about the Fed or are we really talking about an AI bubble and valuations?

Probably both at this point, Cara.

Yeah, and let's get to both of those key elements we want to dissect.

Bloomberg TV Markets correspondent Nora Melinda is here to really break down what felt like the start of the day of a risk-off rally.

The risk-off is still there in crypto, but we're really getting whipsawed in the stock market.

Nora, I'm going to let you and the audience in on a secret.

I was going to take a vacation next week.

Okay.