Stocks are falling hard. We are at session lows. The dowes down almost 850 points.

Adding to yesterday's last is as Wall Street extends the week and ends the week here on a sour note,

down 2.5% for the week for the S&P.

The most important hour of trading starts now.

Welcome to Closing Bell, everyone.

On a Friday, I'm Sarah Eisen, coming to you live today

from Washington, D.C.

Take a look at where we stand in the market. It's broad and it's ugly.

The S&P 500 down 2.4% right now. Every sector lower by at least 1%.

Even the better performing sectors, like defensive like Staples down a percent the hardest hit areas of the market right now

materials health care communication services and financials. It's a mix

Technology stocks growth stocks

value stocks, cyclical stocks all getting thrown out today. Small caps down 2.5

percent. Check out the S&P 500 sector heat map. It really does show you just how extensive this

sell-off is right now. As you can see, utilities bearing the best of the

bunch down 1.1 percent. You've got three groups in the S&P now down more than 3% communication services, health care,

and materials.

Coming up on this show, a key interview as Fed policy is driving all this market action

in this big sell-off today.

We will speak exclusively with a voting member of the Fed, Loretta Mester.

She's the president of the Cleveland Fed about her outlook on policy and

whether or not she thinks inflation has peaked.

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