All right, stock settling at session lows.

That is the scorecard on Wall Street,

but the action is just getting started.

Welcome to Closing Bell overtime.

I'm Morgan Brennan with John Fort, ahead of today's show.

Former Barclay CEO Bob Diamond weighs in on the Fed's messaging that put the market on edge

and explains why investors need to get used to a new normal on inflation.

Plus we're going to talk to the CEO of Intel Spin Out Mobile, the autonomous driving

company that's been a rare IPO winner since going public a year ago.

But let's begin with the market with more pressure for the bulls today adding to losses on the week

Real Estate Consumer Discretionary materials seeing the biggest pullbacks joining us now is Goldman Sachs managing director Candice say and

C. NBC senior Markets commentator Mike Santoli.

Mike, I'm going to kick this one off with you

because we saw a big move up in yields,

and we saw this big move lower in stocks, particularly big cap tech.

Yeah, I mean pretty comprehensive sell-off in stocks, I would say.

Absolutely in terms of market cap effect, big cap tech had a big effect but I would say

this re-pricing according to higher yields there was some hope out there I

think among stock investors that Treasury yields were maybe just visiting the

upper end of their range they were ready to

to kind of crest and come back down a little bit after the Fed meeting yesterday

but also along with these other concerns about higher for longer rates but also

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