And welcome everyone major averages falling once again in another

choppy day of trading the most important hour of trading starts now

welcome everyone to closing bell I'm Sarah Eisen take a look at where we stand in

the market just about at session lows right now with the doubt down more than 500 points the

down down more than 500 points. S&P 500 down 1.3.

1.3 percent every sector right now is lower.

It's being led down though by technology. A lot of those chip names especially the mega cap stocks like

Apple falling hard today the NASDAQ composite down almost 2% 1.8% adding to losses for the

week the NASDAQ 100 down 2% and for the week now it is down a few percentage

points about 7.5% that's what the NASDAQ 100 is down this week. I want to point out

the action in the meme stocks today. This is interesting. Game Stop and AMC

actually both outperforming for a change. Game Stop was halted multiple times during the session

seemingly on no news. Sort of reminiscent of the frenzy from last year. We'll talk more about these heavily

shorted names later in the show. Perhaps some short covering is the explanation there.

Also ahead we'll discuss the carnage in crypto currencies with the founder of

crypto fund polychain capital as

Bitcoin thinks to its lowest level since 2020.

Plus take a look at shares of American Express

falling hard after Wolf Research cut its rating on that stock saying a likely recession would put

pressure on these credit card names. We'll talk to the analysts behind the call.

First up though we'll start with more pain for

technology. The Nasdaq in the red again, now down about 8% this week, nearly 30% for the year.

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