A rate shock, slam stocks. The yield on the 10-year Treasury note,

breaking below 1% for the first time ever.

The bond market bombshell comes as the Fed takes emergency measures to stabilize the market,

the fallout widespread.

And our traders are standing by to break it all down. A special edition of fast money starts right now.

And yes, welcome everybody to a very special fast money and your guides in these crazy times are

Tim Seymour, Karen Feinerman, Dan Nathan, and Guyadami.

I'm Brian Sullivan in once again for Melissa.

Here is what happened today on another incredible ride and volatile session.

That big half percent rate cut by the Fed this

morning doing very little to calm markets, maybe exaggerating the selling, the Dow

giving up more than half of Monday's gains at the end of the day down 785. Keep this in mind. The Dow is now down

3,500 points from its highs of less than one month ago. Stocks of course a story, but the big story of the day was the bond market

holy smokes bond yields continuing to fall on the 10 year in fact that free fall

right at 2 p.m. Eastern time, we were at 0.99%.

My drawing is not good, but you get the point under 1% on that benchmark 10-year note.

We have never seen that before.

Buyers, not just coming into bonds, they also flocked into gold and the gold mining stocks.

The precious metal up 3%, the gold miners, even more, the gd x one of the big gold mining

indexes up 5% today now if you remember if you tuned in last night we hope you

did everybody around the desk said that they were not buying into the gains. In fact,

Gai Domi, I believe you said we would rally to 3125 on the S&P 500 then

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