Yes, that is the scorecard on Wall Street, but winter stay late.

Welcome to closing down overtime.

I am John Fort with Morgan Brennan.

We're going to be all over the breaking news surrounding the failure of Silicon Valley Bank

and the impact on the market and your money.

Coming up this hour we're going to talk with venture capitalists David Sachs who says

the problems in our banking system are just getting started even after this weekend's government intervention.

Plus we're going to look ahead to tomorrow's inflation print as the Fed's rate path gets

murkier by the minute.

We're going to discuss the outlook with Wells Fargo's chief economist.

Now let's get straight to the market and the fallout from the collapse of Silicon

Valley Bank. Joining us now is Funstrats, Tom Lee, Tom I guess, I mean the NASDAQ ended higher in all of this as some believe the Fed is not

going to raise in March.

Uh, crypto rallied.

What does that tell you?

Well, you know, the last couple of days

have been really tough for the markets,

but I think this credit shock that's reverberating from the Silicon Valley Bank failure is the first

signs that the Fed's monetary policy is finally biting.

I mean, and I think, you know, one of the takeaways we have when we look at what Fed Fund futures have done, which is now price and cuts by year end, and the drop in yields is that there are some deflationary forces being unleashed because of both the shock to the startup community and you know that the regional banks having some tightening of lending standards that's surely to follow and I think you know I

think it does mean disinflation maybe finally have happened we may have sort of broken the

back of inflation. All right we have some breaking news right now from the Fed, Steve Leesman has the details. Steve.

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