Welcome to Closing Bella, I'm Mike Santoli in for Scott Wopner here at Post 9 of the New York Stock Exchange.

This make or break hour begins with some sudden turbulence disturbing the market's recent com as higher long-term bond yields and some mixed

earnings reactions help send the index as toward what would be their worst day in

months. You see the S&P 500 down more than one and a quarter percent pretty

much near the lows of the day

45 11 or so was the low of the day the NASDAQ has been the big underperformer

a lot of the winning stocks in that group including semiconductors leading to the

downside about 80% of all volume is negative today on the New York Stock Exchange.

Take a look at treasuries.

That's part of the story as well.

10-year yield up about 4.08.

A lot of that gain in the yields on the long end happened after

we got any stronger than expected ADP payrolls report and we also have had recent kind of

indications of higher oil prices and maybe some

inflation concerns so a lot of things in the mix of course along with that

fits downgrade of the US federal debt that all brings us to our talk of the tape where we ask, is this just a routine

routine shakeout in stocks after this powerful multi-month rally or a sign of a

much tougher tape ahead? Here to discuss all that is Rithol's wealth

management CEO and see me contributor Josh Brown so Josh we can we can write it

anyway we like we could basically say everything lined up for this we had a five-month

winning streak in stock sentiment was getting a little bit's frothy

technicals were stretched we have a negative seasonality something's going to come along to maybe create an air pocket and we did that on the other hand we also had a lot of bears capitulating

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