Welcome to Closing Bell, I'm Mike Santoli in for Scott Wopner.

We are live from Post 9 at the New York Stock Exchange.

This make or break hour begins with the stock sell-off, picking up some steam, returning

down to the lows of the morning and the S&P 500 as investors

continue stressing out over the banks. Anxiety surrounding financial stability,

pressuring bank stocks further, dragging down the broader S&P 500, which is trying to hang on to a small gain for the week and that is our

talk of the tape what does this all mean for the economy the Fed ahead of next

week's rate height decision to talk about all that. We're going to

bring in Dan Greenhouse and how you should be positioning ahead of it as well.

Dan. Dan Greenhouse is chief investment strategist at Solas Alternative Asset Management.

So Dan, this is one of those Fridays, you know, in a little bit of a mini-crisis period.

It's kind of the fog of war.

You can't disprove the idea that there's other shoes to drop in the banking system, but you also don't know for certain that that's going to happen.

What's your read on the week's action in the context of what has had to occur with the banks.

I don't know that you can really read too much into it.

There's a lot of conversation about cyclicals outperforming and how gold is doing, and I think

to your comment about this being in the midst of the fog of war I think it's

really hard to make any consequential decisions right now since to your point we

don't know when the next shoe will drop if the next

show will drop and so I would be hesitant to read too much into just about

anything right now.

The broad outlines of the way the markets are behaving is it seems as if again we're bracing for the recession

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