Yes indeed, live from the NASDAQ market site in New York City's Times Square.

This is Fast Money. I'm Joe Kernan in for.

Melissa Lee, let's get right to it, a major sell-off on Wall Street today.

The Dow plunging nearly 7% the worst day since March 16th.

Every single S&P sector finishing the day in the red with energies and financials the hardest

hit. We have full team covered standing by to tackle today

sell-off. Let's kick things off of someone who watches the minutia and is Bob Pissani.

Bob, hard to find anything positive in today, but seeing you is positive for me.

Thank you Joe good to see you as always a much overdue look at the cyclical rally

and the reopening story in general I just want to show you a few things here because the V rally that a lot of people have been hoping for has been inverted. There's an inverted V that's actually happened in a lot of the cyclical names in the last few days punctuated by today.

Let me just start with some of the energy stocks. So you marathon, MRO. Marathon runs $6 at the start of the month.

It goes to $9 and then back to six this is essentially an inverted

v as you can see a lot of and he's Devon they're all looked the same way same thing

with other big industrial so if you look at General Electric general Electric

goes from uh... if it was, six to nine I believe, and goes back down again,

as you can see right here to essentially six dollars in change.

Same situation, a V.

Caterpillar looks essentially the same way other industrial

were the same here the airlines united airlines we watched

uh... with our mouth open it goes from thirty to fifty dollars and now essentially

back into the thirty dollar range all of this in a few

weeks think about that same with the banks and this is even more remarkable considering

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