Welcome to Closing Bell. I'm Sarah Eisen.

In today for Scott Wapner, we are live at Post 9 of the New York Stock Exchange.

Stock selling off to close out the week, putting the Santa Claus rally on ice.

Let's get straight to the scorecard with 60 minutes to go in regulation.

A decline across the major averages, but we are off the lows of the session.

Some of the year's biggest winners among the worst performers in today's

session. We're talking in Vidia, Amazon, Microsoft, all slumping, along with Applebat, Apple and

Meta as well. Tesla shedding four and a half percent. Yields continue to climb the 10-year

above that 4.6 level, hitting a seven-month high. Oil on track for a weekly gain spurred by expectations of a stimulus-driven economic recovery in China.

We've got a special report on the move in energy later this hour.

That takes us to our talk of the tape. Is today's action just end of year profit-taking, or is it a sign of a bigger rotation to come in the new year?

Here with me now to discuss all this is Robin Hood, Stephanie Guild, Obermeier wealth partners,

Allie Flim Phillips, and Raymond James's Tavis McCourt.

It's good to see all of you, but first I want to get to our own Steve Kovac,

who's breaking down this big move in the mega cap tech stock, Steve.

Yeah, this is probably the worst Santa Claus rally ever, Sarah. Tech is taking it

especially hard today and that tech sell off a big drag on the NASDAQ, now down about 1.6%. Let's

talk about Apple first. So much for that $4 trillion market cap that it's been chasing all week.

It's down about 1.4%, but it has been quite a run for Apple this month, still up more

than 7% so far. Now over to Microsoft, just as its biggest AI investment, OpenAI, says it

needs to raise billions more cash. It's down about 1.7%. Microsoft says it will start recording

losses from its Open eye investment. That's

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