Closing Bell Overtime: Stocks Plummet 5/5/22
Closing Bell
CNBC
4.4 • 140 Ratings
🗓️ 5 May 2022
⏱️ 46 minutes
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| 0:00.0 | Welcome to overtime. I'm Scott Wachney. You just heard the bells. We of course right here at post nine are just getting started and in just a few minutes I'll speak live to a man who told you stocks were poised to surge in May. |
| 0:11.6 | So what does Kanters Eric Johnston think now? I will ask him on a day |
| 0:16.0 | when stocks plunged yields jumped and uncertainty roared. We begin though with |
| 0:21.1 | our talk of the tape. This no good awful and terribly |
| 0:24.0 | painful day for your money. How much worse it might get from here. Let's ask Trivaria |
| 0:28.8 | to Adam Parker. He is with me here at Post 9. Rather than the sky is falling okay let's try and help people |
| 0:36.3 | understand what they're witnessing why it's occurring and the size of the |
| 0:41.5 | umbrella if you will that they might need a golf |
| 0:44.2 | umbrella or something smaller what is your takeaway but let's say the last 24 |
| 0:49.0 | hours from big rally to big sell-off the last three times that I've been down here two Fridays |
| 0:55.1 | ago last Friday and today the market's been down more than 3% all three days |
| 0:58.7 | so maybe it's just you and I getting together is a is a negative quant signal at this point. |
| 1:03.3 | But speak for yourself. |
| 1:04.3 | I don't know. |
| 1:05.3 | When I'm not with you, everything's fine. |
| 1:06.6 | I mean, I didn't see you yesterday and it was great. |
| 1:08.7 | You know, in all seriousness, what's going on? |
| 1:11.0 | Look, I think what's going on, if I describe more than last 24 hours, just building |
| 1:15.0 | into this. |
| 1:16.0 | We had a big change in the perception of rates. |
| 1:18.3 | We had a growth scare, we had a war. |
| 1:20.4 | And we've had an earning season now where people are looking for, you know, |
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