Jim Kramer here to share with you a sample of my take on the market from today's CNBC Investing Club warning meeting.

We come in at 3.30, the market looked great.

Everyone was thinking, you know, credit suites cut that lifeline and everything was good.

And by 4.30, there was run on the common stock of First Republic.

And once again, First Republic being a very large bank, four mostly wealthy people that got

a lifeline from JP Morgan just last week. It turned everything down. So we can't seem to get

away other than in the NASDAQ from the grip of these regional banks that are in trouble.

Regional banks still very much in focus.

Still a lot of uncertainty there, much more uncertainty than I would ever want to touch.

You also have this Goldman Sachs call.

They raise their estimates on odds of a recession to 35%.

I think that's trickling down.

That's perhaps why we're seeing the Dow underperform.

The NASDAQ as well, interest rates pulling back.

And you do have the ECB raising interest rates as well over there.

And completely tone deaf.

50 basis points.

The problem the ECB has, just so you understand, if you go back and look at what Silicon Valley

bank had, they bought a lot, they had a huge influx of deposits exactly at the time of the generational

low of yields.

And that's where they were hurt because they had to take a loss of those in order to be

able to redeem for outflow of a crowded theater fire by a call by Peter Thiel.

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