Welcome to closing bell. I'm Scott Wapner, live from Post 9 here at the New York Stock Exchange, a very busy day.

This make or break hour begins with sinking stocks again as the markets remain firmly on edge here.

Investor optimism so strong in the fall, suddenly shrinking as fears of a recession continue to rise.

Take a look at the scorecard here with 60 to go in regulation on this Monday.

Ugly from the outset today, technology

stocks are by far the biggest drag on these markets. Tesla is tumbling again, Nvidia sliding.

Apple 2, almost nowhere to hide here. Bitcoin below 80K for the first time since November, so it

is decidedly risk off elsewhere. The names most sensitive to the economy are falling from

airlines to retailers to the banks yet again, all of it taking us to our talk of the tape.

The no-good NASDAQ sinking deeper now into correction. It is the worst day since at least

January of 2022, or June of 22, excuse me. We do have several reporters on the case for us today.

Phil LeBow on Tesla's historic losing streak.

Steve Kovac on What's Eating Apple yet again today.

Christina Parts of Nevolos on Nvidia's drop and the chip rack and Sima Modi on the continued momentum misery.

Phil, though, we do begin with you today.

This is the worst day in some four and a half years for Tesla.

And remember all those gains after the election that Tesla was racking up and people were like,

wow, it's going to the moon. No, all of those have been erased. They're completely gone now.

Take a look at shares of Tesla down more than 15% today. Look at this.

If you go back to December 17th, down 51%. They're down with the entire market.

But if you had to point to a catalyst today, you might look at the UBS note that came out.

Joe Spack is the analyst there, reiterating a sell rating, cutting the 25 EPS estimate from UPS to 202, was 316. That's what they were previously expecting, or 315,

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