That is a scorecard for an ugly day on Wall Street, but winners stay late.

Welcome to Closing Bell Overtime.

I am John Fort Morgan Brennan is in Washington covering the Norfolk

Southern Testimony. She's going to be with us in just a bit. Now we have got a

busy afternoon of earnings coming your way including numbers from Oracle, Gap, Docusine, and more.

And we're going to talk to former Fed Vice Chair Alan Blinder about why he doesn't think

the Fed's going to go as high with rate heights as some people think.

But now let's get straight to this late day sell-off. high with

our market panel.

joining us now are Adam Chris O'Fooli from Vital Knowledge

and Megan Shoe from Wilmington Trust.

Guys, welcome Adam to start.

To me, the banks, the biggest story of the day,

maybe raising the stakes for tomorrow's jobs number.

And I wonder, my interpretation

is that depositors are finally catching on that higher

rates should mean bigger payouts and banks might be getting squeezed here.

I mean over simplifying, but is this a yellow flag perhaps on this lag effect of higher

rates that it is having an effect? No 100% banks were by far the dominant story.

Thanks are the most important sector in the entire market from a signaling perspective.

So on a day when the BKX

moments like it did, it's hard for the market to ignore it.

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