Fast money starts right now live in the NASDAQ market site overlooking New York

City's Times Square.

I'm Melissa Lear.

Traders on the desk of Tim Seymour, Karen Finerman, Steve Grasso and Guy Dami.

Tonight on Fast, a sea of red on Wall Street today.

But one top strategist says, don't go running scared just yet.

She'll tell us where the best place to put your money to work right now is.

Plus, a couple of big names reporting earnings moments ago,

IBM soaring after hours, Capital One,

under pressure to the tune of 4%. We'll be monitoring those moves as those conference calls

kick off. But we start off with the market sell-off, and it the China shocks sparking that selling today a slowdown

in one of the world's largest economies exasperated by tumultuous trade talk between the

US and China as details of a meeting cancellation between the two leaked out.

Larry Kudlow though denying those reports late in the day right here on

the C and B.C. the Dow ending the day down.

300 points, the S&P 500 falling back into correction territory.

The NASDAQ falling more than 2%. So just last week,

it felt like the worst was behind this market. But is the China fallout still not priced

in where we go from here? Guy.

Yeah, I don't know if we said the worst was behind us.

I mean granted I thought the S&P would stop at 25 50 or so on the way up so that's about a

hundred or so S&P points ago but I still think we're going to go back and

...