The Biggest Story Is the Collapse of Tech Stocks, Right?

John Defterios: The biggest story is the collapse of tech stocks and everything involved in that. When you drop the rate of interest to zero, it's impossible to know how to value a company,. That's the critical factor. Warren Buffett says only when the tide goes out, do you realize who's swimming in the nude? And that's what he's saying. On the way up, it anoints certain companies as being fantastic, right? But on the way down, then all the jiggery, pokery, all the nonsense comes out.