Nasdaq tumbles as tech falls

Tech tumbles — and takes the Nasdaq along with it. Plus, Apple’s big report is only a day away. Why the market really needs Tim Cook and to knock it out of the park. And, two Wall Street banks say “beware ahead” of Tesla earnings. Plus, Blackrock’s Rick Rieder shares what he thinks is the financial story of the year. Catch The Final Round at 3:55 ET p.m. with Jen Rogers and Yahoo Finance’s Jared Blikre.

Winners and losers

Stocks in the red include Tyson Foods as the chicken producer cuts its profit outlook for the year citing tariffs; Sienna Biopharmaceuticals as its experimental acne treatment failed to reach its endpoint; and American Express, with shares dropping on the Wall Street Journal report that AmEx raised currency conversion rates for business clients without notifying customers.

Stocks in the green include AMD as both Cowen and Northland Capital raised their price targets for the chipmaker; RLJ Entertainment as the Robert Johnson controlled digital cable channel was acquired by AMC Networks in a deal valued at $274 million; and AT&T, with shares climbing higher as BofA/Merrill Lynch upgraded shares to Buy, citing its lowest multiple in two decades, as well as benefits stemming from its Time Warner merger.