I picked a helluva day to return from the DL after major knee surgery to get myself back on the rec league softball field and golf course within the next 12 months. Not to mention the Wall Street beat right off the bat.

Trump pulled another seemingly anti-corporate, protectionist shenanigan with the decision to block Broadcom's (AVGO)  takeover of Qualcomm (QCOM) , then fired Secretary of State Rex Tillerson. Compound that with more bad news from General Electric (GE)  and the fact that technology proved to be the worst performing sector despite a run-up in the semis and you've got a cocktail for disaster. The Dow pushed higher to start the day but sold off in the later hours despite steady but tame inflation numbers that calmed investors for a brief moment.

Investors need to pay a little bit more attention to that Broadcom-Qualcomm decision, as the implications are wide-ranging. "Don't we have to be worried that all of tech that wants to be big in China could be under pressure?," asks TheStreet's co-founder Jim Cramer in a column earlier today. "Nearly everybody in tech has business in China. It's where the growth is," he adds, positing that Tillerson's exit and the elevation of Mike Pompeo, who has maintained a much harder line on China, could also pressure the tech segment in the near term.

Forget about protectionism, think pot, and just legalize it, dude. A busy Tuesday may have overshadowed what's been a busy few weeks for the marijuana industry. A recent study by cannabis industry data and analytics expert New Frontier Data found that full legalization of cannabis in the U.S. would result in more legal businesses entering the market, more consumers participating in the legal market, and more employees on official payrolls, resulting in $3.3 billion in payroll taxes. If the sales tax at the federal level were implemented at 15%, total tax revenue in the eight years through 2025 would "theoretically" be $46 billion, New Frontier estimated. "This amount of revenue would be entirely new revenue to the U.S. Treasury, as there are currently no federal sales or excise taxes" levied on marijuana. The report comes after more M&A in the "Green Rush" late last week as WeedMD announced its intent to partner with Phivida to create a joint venture called Cannabis Beverages Inc. CanBev will focus on cannabis-infused drinks, which bodes well for Constellation Brands' (STZ)  bet on the industry, which many believe could lead to more weed-infused beverages.

This is an excerpt from "In Case You Missed It," a daily newsletter brought to you by TheStreet. Sign up here.

Photo of the day: The Tiger effect

Lots going on Wall Street to start the week, so you may have missed the run-up in Acushnet (GOLF) and Callaway Golf (ELY) over the past few days after strong earnings. Well, if you believe that Tiger Woods' performance over the weekend is for real, then you might want to think about adding to your positions in these companies. No matter how you feel about Eldrick Woods, his influence on the game of golf is undeniable and perhaps akin to no one individual's impact on a single sport since Michael Jordan. Just look at the ratings of this weekend's tournament where Woods finished second. If that's not enough, a study done in 2009 by professors at the University of California Davis just after Woods life came crumbling down, estimated that shareholders of such Tiger Woods-endorsed stocks as Nike ( NKE - Get Report) and PepsiCo (PEP) --had lost a much as $12 billion in market value in just under a month. Imagine what these companies could gain if the comeback is for real? Read more

Read more from "In Case You Missed It." Sign up here.

More from Opinion

Tuesday Turnaround: Micron, Autonomous Driving, and J.C. Penney

Tuesday Turnaround: Micron, Autonomous Driving, and J.C. Penney

Cable Stock Investors Should Keep an Eye On Wireless Broadband's Rise

Cable Stock Investors Should Keep an Eye On Wireless Broadband's Rise

Trump Blinks on China Trade War That's Looking Harder to Win

Trump Blinks on China Trade War That's Looking Harder to Win

Monday Madness: GE, China, and Micron

Monday Madness: GE, China, and Micron

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly