And welcome to closing bell. I'm Mike Santoli in for Scott Wapner today. This make-or-break

hour begins with the indexes breaking lower, especially in the last couple of hours under pressure

from bonds, with Treasury yields pushing to multi-month highs, in some cases multi-year highs after

a tepid auction of 20-year bonds. Here is your scorecard with 60 minutes to go in regulation.

You see the yield moves right there, the 10-year just under 4.6%.

Look at the intraday of that 10-year note.

You see it popping right there at 1 p.m. Eastern time.

That's when those 20-year treasury auction results did come out.

Also spooked the stock market, the S&P 500,

cracking beneath Monday's low.

That was near 5,900.

You see where, oh, about 50 points below that right now,

down about a percent and a half at the lows for the session.

NASDAQ also down, slightly outperforming the broader market.

Now that's thanks almost entirely to a bump in alphabet shares following yesterday's AI showcase event by the company.

Those shares still up a bit more than 3%.

But on the other side, Apple shares, the biggest downside driver, both for the NASDAQ and the S&P,

after news that OpenAI has acquired the firm of former Apple Design Chief

Johnny I. We will bring you a report on that. Just moments from now, Apple shares down two and a half

percent. So plenty to cover as we begin with our talk of the tape. Can the economy handle these

higher rates? And what do they mean for what had been a resounding rebound rally in stocks over the

prior six weeks? Here to address it all is City Wealth, CIO, Kate Moore, and welcome. Thanks for

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