A lot of red on your screen with the Dow having its worst day since March and the 10 year Treasury

yield hitting a fresh high going back 16 years. That is the scorecard on Wall Street. The action is just

getting started. Welcome to Closing Bell overtime. I'm Morgan Brennan with

John Fort. We'll be all over today's sell-off throughout the show. In just a moment

fun strats Tom Lee breaks down the storm clouds that are growing. the Mark Zandy gives us his forecast for rates as yields get another significant pop.

Plus we are watching the drama unfolding in Washington as Kevin McCarthy's

speakership hangs in the balance.

We're going to talk about how that uncertainty

might be hitting the market.

We begin though with this sell-off,

the relentless push higher for yields,

the 10-year getting closer to 5%. That is putting significant pressure on the major

averages. Why go to stocks when you can get that safe yield there? The Dow falling

more than 400 points, the

Volatility index at its highest level since May, but still pretty low. Senior

Markets commentator Mike Santoli is with us from the New York Stock Exchange

Mike underneath the covers,

it's the major indices ugly, underneath the covers in the S&P,

I'm looking at the consumer discretionary tech

and communication services sectors

because they haven't

badly.

...