Alphabet, Google’s parent company, is the latest to join the ranks of tumbling stocks after Tuesday's results. Other tech giants that fell include Facebook, Amazon and Netflix, with almost $85 billion in market value wiped out.

Dodge talks about what's happening in the tech sector, and does not think that this is an issue of fundamentals but more of perception.

He also talks about how equities could be impacted as yields on the benchmark 10-year Treasury note hit the key psychological level of 3% on Tuesday for the first time since January 2014.

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