Tech Sector Extends Losses, Growth Stocks' "Shellacking," the White House Doubles Up on Pfizer's COVID Pill and France's Macron Says "Piss Off" the Unvaccinated.

Carl Quintanilla, Jim Cramer and David Faber discussed tech stocks extending losses from Tuesday's sell-off in light of rising rates. David highlighted the "shellacking" growth stocks have taken as of late, including Shopify, business software provider HubSpot, plus Salesforce and Adobe -- UBS cut both stocks from "Buy" to "Neutral." Lots of news surrounding COVID, including the CDC declining to add a negative test result requirement to its updated isolation guidelines, the Biden Administration doubling its order of Pfizer's antiviral pills to treat COVID -- and French President Macron's vow to "piss off" the unvaccinated. As for autos: Ford U.S. auto sales fell in December from a year ago but surged sequentially in Q4 -- and Chrysler said it plans to have an all-electric vehicle lineup by 2028. Also in focus: Allegiant Air orders 50 Boeing 737 Max jets, media stocks' upbeat start to 2022, travel stocks get a lift and shares of Beyond Meat jumps on news that KFC will roll out the company’s fried chicken substitute nationwide starting Monday. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.