Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
Biden has shown staying power at the top of a jammed Democratic field even as polling numbers for Sanders, Warren and Harris wax and wane.2020 Electionsread more
The FDIC on Tuesday votes to approve a five-agency revision of the post-crisis regulation known as the Volcker Rule.Financeread more
The yield curve is the only economic indicator pointing to a recession, according to Credit Suisse.Marketsread more
Amid fears of a recession, Domino's Pizza CEO Ritch Allison said Tuesday that the U.S. consumer is still strong.Restaurantsread more
Stocks slipped on Tuesday as investors digested a sharp rebound from a strong sell-off last week.US Marketsread more
Makan Delrahim, assistant attorney general for the antitrust division, said several state attorneys general have spoken to the Justice Department about starting their own...Technologyread more
With the official launch of the Apple Card, Goldman Sachs has embarked on a multi-decade journey to becoming a leader in consumer banking, CEO David Solomon says.Financeread more
These are the stocks posting the largest moves midday.Market Insiderread more
The move comes as Facebook continues to grapple with its privacy practices and lawmakers' scrutiny over how it uses personal data to display ads. But it probably won't have...Technologyread more
For investors still haunted by last week's monster sell-off, the market's comeback is set to last, according to J.P. Morgan's quant guru.Marketsread more
Investor complacency during the market's sell-off shows it isn't yet time to buy the dip, Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, told CNBC on Thursday.
"I actually sensed complacency yesterday. I was out seeing investors yesterday, wasn't looking at my phone all afternoon, got back to the office — was absolutely shocked at how much tech had gone down," Calvasina said on CNBC's "Fast Money."
"I wasn't sensing that investors were really paying much attention to it in my meetings. That tells me we've got a little ways to go," she said.
The tech sector's drops on Wednesday were nothing to sneeze at. Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more than 3 percent. The major indexes fell on Thursday after some of the tech names failed to recover from steep losses in the previous session.
The Dow Jones Industrial Average closed 545.91 points lower at 25,052.83, bringing its two-day losses to more than 1,300 points. The dropped 2.1 percent to 2,728.37 and posted its sixth straight decline. The broad index also closed below its 200-day moving average for the first time since April. The Nasdaq Composite pulled back 1.3 percent to 7,329.06 and briefly entered correction territory at its lows on Thursday.
"On the tech stocks ... when people stop arguing that they're secular and they don't have any secular components, there is just so much pushback on the perfection of the fundamentals. That has got to break before you can go back in and buy that sector," Calvasina said, readily admitting she is a tech bear.
Looking outside of the technology sector, Calvasina said she felt materials still looks very expensive relative to cash flow, and there is likely "more damage to be done in that space."
But on the whole, valuations should not be a reason to buy or sell right now, since "we aren't even back to cheap valuation territory yet," she said.
For now, Calvasina's advice to investors is "don't buy the dip yet," and slowly invest in defensive stocks.
"We think you should be tiptoeing back into those defensives — we've been telling people that for a while. People have to get past their rising rate fears, though," she said.
— CNBC's Fred Imbert and Alexandra Gibbs contributed to reporting.