The bell is bringing an end to the training day at the NYSC Global X ringing the closing bell at the NASAC. It's Merrick's group. Welcome to closing bell lower time, relaxing studio B at the NASAC market site. I'm Melissa Lee along with Mike Santoli. Stock selling off hard today into the close. The Dow down 500 points, the SB 500, losing nearly 2%. The NASAC taking the worst of it off by about 2 or 3.2.3%.

The former AI winners, especially the memory names, getting crushed.

We'll have much more on that straight ahead.

Meta, also a big contributor to today's tech washout.

It was down 8%.

How big an issue are the company's recent legal setbacks?

And we are once again watching oil.

When it goes up, stocks go down.

Up another 4% today in WTI right around $95 a barrel.

So everything moving in the wrong direction, so to speak.

The S&P 500 did make a new closing low for this move,

not really far from the pre-market indicated lows we had Monday before we got

the first inklings of maybe some kind of a ceasefire prospect. I don't know if it's time for a

particularly nuanced view of what's going on, but the EcoWate S&P's up on the week. Banks are

flat on the week, or a little bit up, actually. And today really was the tech story. It just took over on the downside. And so it's a question of whether we're rooting for stuff to hang in there, or you just want to have one of those capitulations. We've been talking about. And we've been watching the two-year yield. You were talking about it on closing bell. We hit 4% just moments ago. So we're sort of up there again.

Yep.

And we'll see how that goes.

But as you mentioned, with big tech rolling over officially, I mean, with meta down almost

8% today, joining Microsoft and sort of just this malaise that is facing that sector, you do

wonder how long the markets are going to hold up.

Yeah.

As I mentioned, NASDAQ 100 back to basically July 31st level.

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