Scott Galloway

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I'm Ed Elson.

It is June 24th.

Let's check in on yesterday's market vitals.

The major indices declined as tech stocks dropped around the world.

More on that in a moment.

Meanwhile, oil continued its decline, and finally the dollar hit its highest level since November on growing expectations for rate hikes this year.

Okay, what's happening?

Tech stocks are selling off and the pain is hard to ignore.

So far this week, the NASDAQ 100 is down roughly 4%, meaning that the index has shed over a trillion dollars in the last two days alone.

Chipmakers are among the hardest hit, with an index of semiconductor companies dropping 8% yesterday.

The route has gone global, too, with Asian stocks taking a steeper dive.

South Korea's Kospi is down 10% from near-record highs.