Dan Ives on Stock Market: Today ‘Is a Dark Day,’ NVidia, AI Revolution, Tech ‘Got Cut in the Knee’

BOLDUAN You were nodding ░░░░░░░░ there Peter what do ░░░░░░░░ think of Bullard s ░░░░░░░░ TUCHMAN You know what ░░░░░░░░ m just hoping I ░░░░░░░░ trying to manifest the ░░░░░░░░ outcome of this I ░░░░░░░░ only my hope is ░░░░░░░░ Mr Trump s goal ░░░░░░░░ be you know that ░░░░░░░░ is a negotiating tool ░░░░░░░░ strategy and that he ░░░░░░░░ bringing people to the ░░░░░░░░ And maybe it s ░░░░░░░░ not some other people ░░░░░░░░ way they would have ░░░░░░░░ it and it seems ░░░░░░░░ I m not sure ░░░░░░░░ all the ramifications and ░░░░░░░░ pain that we ve ░░░░░░░░ on the way here ░░░░░░░░ absolutely necessary But my ░░░░░░░░ is that he has ░░░░░░░░ big vision right I ░░░░░░░░ he s a smart ░░░░░░░░ and that that this ░░░░░░░░ going to get everybody ░░░░░░░░ the table And at ░░░░░░░░ end of the day ░░░░░░░░ re going to start ░░░░░░░░ off box by box ░░░░░░░░ by country And then ░░░░░░░░ is going to be ░░░░░░░░ there going You know ░░░░░░░░ We ve got to ░░░░░░░░ a deal on this ░░░░░░░░ Do we want this ░░░░░░░░ to completely combust We ░░░░░░░░ tech to flourish and ░░░░░░░░ And we at the ░░░░░░░░ of the day you ░░░░░░░░ the alternative is such ░░░░░░░░ dark view BOLDUAN It ░░░░░░░░ so bad TUCHMAN Right ░░░░░░░░ s that that we ░░░░░░░░ got to we ve ░░░░░░░░ to believe that this ░░░░░░░░ going to be a ░░░░░░░░ outcome to this situation ░░░░░░░░ I m trying to ░░░░░░░░ positivity IVES I like ░░░░░░░░ BOLDUAN I hear you ░░░░░░░░ hear you but are ░░░░░░░░ investing on that strategy ░░░░░░░░ No we talked about ░░░░░░░░ think we re all ░░░░░░░░ on this IVES And ░░░░░░░░ think and I think ░░░░░░░░ Tuchman that s a ░░░░░░░░ s a very optimistic ░░░░░░░░ I appreciate it TUCHMAN ░░░░░░░░ did it a lot ░░░░░░░░ I mean I was ░░░░░░░░ I m so happy ░░░░░░░░ gave us BOLDUAN But ░░░░░░░░ mentioned bipolar markets This ░░░░░░░░ bipolar from last night ░░░░░░░░ But a lot has ░░░░░░░░ since last IVES But ░░░░░░░░ would say but the ░░░░░░░░ reality today is a ░░░░░░░░ day BOLDUAN Yes IVES ░░░░░░░░ it comes down to ░░░░░░░░ Nvidia the golden child ░░░░░░░░ the market A I ░░░░░░░░ tech got cut at ░░░░░░░░ knees I mean essentially ░░░░░░░░ talked about it last ░░░░░░░░ BOLDUAN You guys called ░░░░░░░░ last night IVES Look ░░░░░░░░ essentially the government if ░░░░░░░░ look at it you ░░░░░░░░ call it restrictions It ░░░░░░░░ a blockade into China ░░░░░░░░ s a do not ░░░░░░░░ sign into China for ░░░░░░░░ S tech Nvidia numbers ░░░░░░░░ cut the stock got ░░░░░░░░ today And of course ░░░░░░░░ when you look at ░░░░░░░░ back against the wall ░░░░░░░░ have a huge inflationary ░░░░░░░░ What s he going ░░░░░░░░ say BOLDUAN Right IVES ░░░░░░░░ that just put gasoline ░░░░░░░░ the fire This is ░░░░░░░░ It s tech And ░░░░░░░░ just comes down to ░░░░░░░░ love Tuchman s optimistic ░░░░░░░░ but today was definitely ░░░░░░░░ step back relative BOLDUAN ░░░░░░░░ mean I kept looking ░░░░░░░░ the numbers thinking I ░░░░░░░░ written them down wrong ░░░░░░░░ mean when you think ░░░░░░░░ Nvidia says they re ░░░░░░░░ to take a 5 ░░░░░░░░ billion hit from this ░░░░░░░░ my it hurts every ░░░░░░░░ of my being to ░░░░░░░░ that it really is ░░░░░░░░ unnecessary IVES And the ░░░░░░░░ effect it s the ░░░░░░░░ effect too I mean ░░░░░░░░ ve talked about it ░░░░░░░░ Well look we have ░░░░░░░░ realize that as I ░░░░░░░░ last night that Nvidia ░░░░░░░░ the flavor of the ░░░░░░░░ couple of years It ░░░░░░░░ the it was the ░░░░░░░░ child of the stock ░░░░░░░░ as I described It ░░░░░░░░ 108 stock February 1 ░░░░░░░░ It was 900 in ░░░░░░░░ It was one of ░░░░░░░░ it was the catalyst ░░░░░░░░ was leading the pack ░░░░░░░░ leading the way of ░░░░░░░░ finally coming side to ░░░░░░░░ in this race to ░░░░░░░░ tech And so to ░░░░░░░░ cut off at the ░░░░░░░░ it s obviously devastating ░░░░░░░░ was really surprised by ░░░░░░░░ fact that if you ░░░░░░░░ back to the last ░░░░░░░░ meeting when when Chairman ░░░░░░░░ said I think everyone ░░░░░░░░ overreacting when we didn ░░░░░░░░ know much more than ░░░░░░░░ do today except the ░░░░░░░░ that came out on ░░░░░░░░ day I don t ░░░░░░░░ think we re overreacting ░░░░░░░░ tech to the tariffs ░░░░░░░░ if they are as ░░░░░░░░ as we seem I ░░░░░░░░ they re already baked ░░░░░░░░ that selloff we had ░░░░░░░░ Feb 19th down until ░░░░░░░░ six weeks was The ░░░░░░░░ which I m hoping ░░░░░░░░ the bottom when we ░░░░░░░░ you know we went ░░░░░░░░ 45 000 to 38 ░░░░░░░░ on the Dow and ░░░░░░░░ went from 6 100 ░░░░░░░░ 5 100 or actually ░░░░░░░░ 800 Cameron Dawson said ░░░░░░░░ other day we actually ░░░░░░░░ 4 800 in this ░░░░░░░░ I didn t see ░░░░░░░░ I m happy I ░░░░░░░░ t see it But ░░░░░░░░ know so his today ░░░░░░░░ comments were really surprising ░░░░░░░░ know and for me ░░░░░░░░ But but I would ░░░░░░░░ But to your point ░░░░░░░░ think surprising but the ░░░░░░░░ is Powell he s ░░░░░░░░ re seeing the numbers ░░░░░░░░ Yeah TUCHMAN It s ░░░░░░░░ but very real IVES ░░░░░░░░ was surprising but it ░░░░░░░░ real And they re ░░░░░░░░ the numbers And basically ░░░░░░░░ the market s showing ░░░░░░░░ that bad news is ░░░░░░░░ You re going to ░░░░░░░░ an earnings season where ░░░░░░░░ are not going to ░░░░░░░░ guidance Nvidia and tech ░░░░░░░░ obviously a huge step ░░░░░░░░ And then you talk ░░░░░░░░ the one word you ░░░░░░░░ want to hear the ░░░░░░░░ word stagflation And that ░░░░░░░░ the fear.”