The Nasdaq is officially in correction territory, down 10% from its recent highs thanks to a more hawkish stance from the Fed.

And despite the stock market pain, many analysts believe they still must tighten aggressively. We’ll discuss.

Plus, the chip stocks continue to get crushed, with nearly all of them lower so far this year. How much more downside might there be? We’ll explore.

And, in today’s edition of Earnings Exchange: we’ll give you the story, the action & the trade in the airlines & Alcoa results on deck.