Fast money starts right now live in the NASDAQ market site

overlooking New York City's Times Square.

I'm Melissa Lear.

Traders on the desk are Pete Nigerry and Tim Seymour, Dan Nathan and Guy

Dami and let's get right to the major market sell off the Dow falling more than 500

points at the lows of the day the Dow and S&P erasing their November gains but

the NASDAQ was a big loser down 3% falling deeper into correction territory and tech is in turmoil check out the

likes of Facebook Amazon Netflix all getting absolutely crushed today

Facebook now on track for its worst month since May 2013. More on that in just a minute. Plus

Apple and chips they're getting slammed. Take a look at NVIDIA that's down more than

10%. This all after reports the smartphone makers cutting production for its newest iPhone models.

The tech giant on track for its worst months since the financial crisis.

So as the tech inferno rages on, how much worse can it get?

What do you do with tech guy? Well, Mel, I think how much worse can it get what do you do with tech guy well now I think how much

worse than again in terms of the s and p i think another four or five percent a few

weeks ago when the s and p was down five percent you turn to me so what do you think

I said it can go down another 8 or 9 percent from here,

14 percent makes about sense. In terms of where it puts the S&P, it puts it at 2530.

Now we've sort of vacillated back and forth, but I still think that's in the radar screen.

Now I'll say this quickly.

Some of the market has changed, like the field of the market has definitely changed.

And quite frankly, it started with Netflix that reported what was a pretty strong quarter.

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