Kelly, thanks so much. Welcome to Closing Bell. I'm Scott Wopner live from

Post 9 here at the New York Stock Exchange and this make or break hour

begins with Wobbly stocks as another rate-fueled sell-off grips this market.

It's doing it right now. Here's your scorecard with

60 minutes to go in regulation. We'll start with yields. That's what we're

showing you now because that's where the pressure point really is. That's where

it has been and that's where it is yet again today. The 10-year,

take a look continuing its climb to fresh cycle highs

and thus it's hard to find many bright spots for stocks today.

All three of the major averages under pressure

throughout the session.

Transport, utilities once again sliding,

although now I look and utilities are green,

not as if that's any consolation

in the kind of market we're in anyway.

And unlike yesterday when Tech managed to rise despite the

jump in yields totally different story today the NASDAQ getting absolutely

slammed mega caps like Microsoft Amazon and video are pulling back sharply all of that plus the

congressional drama in DC. We think that's taking a bit of a toll today as well just

DC dysfunction on top of everything else. That takes us to our talk of the tape.

How high will rates rise and if they keep going up can stocks handle the heat?

It seems to be the only question that really matters at the moment, especially with earning season,

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