And welcome to closing bell. I'm Scott Wobner, live from the New York Stock Exchange.

This make or break hour begins with these markets, of course, a drop in yields, a spike in volatility today.

Have investors a bit on edge? We'll show you the scorecard here with 60 to go in regulation.

Stocks did begin falling around midday as financial stocks person.

I want to show you some of the biggest names within that group because they are all lower today.

There is city down three and a third.

JPM and Wells Fargo are down as well.

Some really big moves in the regional banks too, and that's a big story.

Leslie Picker is going to be here in just a moment to tell us exactly what is going on behind those

sizable declines in what you're looking at on your screen. She's also following the money today

in the alternative investment in private equity names. Most are falling again. Take a look at those

slides. Apollo's down more than 5%. KKR is as well. Blue Owl has not traded well lately either.

We'll get to the bottom of all of that. United shares, the airline down sharply after reporting

earnings on the bell. That's yesterday that those earnings came. The follow-through today, United

down 7% American Delta are also in sympathy there. It takes us to our talk of the tape.

The market's midday move and why the regional banks are at the center of it.

As I said, Leslie Picker, always following the money.

And she joins us now with the very latest on what is exactly happening here, Les.

Yeah, Scott, pretty much every company with a loan book.

In the red right now on concerns about

credit quality, regional banks are plummeting, alternative asset managers are slumping,

and Jeffries is tanking once again as its name has become increasingly synonymous with

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