Carl Quintanilla, Jim Cramer and David Faber led off the show with Nvidia in correction territory, down more than 10% from its 52-week high and flat over the past six months.

When will the stock hit bottom? A different story for Tesla: Shares hit a fresh record high on an upgrade from Mizuho. The anchors reacted to President-elect Trump's comments

about lowering drug prices and cutting out the "middleman," which weighed on shares of pharmacy benefit manager operators UnitedHealth, Cigna and CVS Health.

Also in focus: Stocks under pressure ahead of Wednesday's Fed rate decision, Pfizer rises on 2025 forecast, Alphabet's quantum leap.

Squawk on the Street Disclaimer