The Dau and S&P 500 losing some steam after that failed early rally attempt, though the

Nasdaq is making a late day comeback. The most important hour of trading starts now.

Welcome to Closing Bell, I'm Carl Quintanilla in for Sarah Eisen.

And here's where things stand in the market today.

See the S&P, tried to reclaim 3,700.

The Bulls plans, though, were foiled by some more hawkish

Fed speak.

As for sectors today, we got some pronounced weakness in materials and

energy and utilities as well. Coming up on today's show, we're going to talk to

Rockefeller International Chairman Roushear Sharma about the wild moves we're seeing in currencies and what that means

for the emerging markets trade and David Rol from Wedgwood says there are some quote

tasty bargains in the tech space he's going to join us with his playbook for volatility.

First though let's get straight to the market dashboard with our senior markets commentator Mike Santoli.

Interesting day here Mike.

Yeah, Carl hopscotching around the old closing low in the S&P 500 3666.

The intrad day was 36.

36.

You have a combination of the overall index as everybody can see and calculate as being somewhat

oversold in a short-term basis but just

these radical moves going on in currencies in yields not really allowing for a lot

of traction at least not yet it's getting stretched pretty pretty thin Here you go. That was the old closing

low. It's a little over three months ago. The average stock, I would say the

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