Stock slammed as the bond market flashes a major recession warning

the dowel handing in one of its worst days of the year as fear grips Wall Street

so what should you be doing with your money following a day like today?

Our team of traders are standing by to break it all down. A special edition of Fast Money

starts right now.

And we are live from the Nasak market site overlooking New York City's Times Square.

I'm Melissa Lear.

Tragers on the desk are Pete Nigerian, Tim Seymour, Karen Finnerman, and Guy Adami, a brutal day on Wall Street stocks plunging

as a yield curve inverted for the first time since 2007.

The selling widespread, the Dow dropping more than 800 points, all 11 S&P 500 sectors finishing the day in red. The market meltdown

leaving many investors on edge and sparking fears that a recession could be on its way.

So what's your take on the day? Guy Dami.

Well, my take on the day is it makes a lot of sense. I mean, volatility is here. I think volatility

will continue to grind higher. Pete can speak to this. When is it over? I mean, that's what everybody

wants to know, so I can pont pontificate but what should be looking for in my opinion I think you're looking for a vix that climbs near 30 we've seen it sort of peak out at those levels before when the market basically drops or you're looking for the

S&P 500 to put in a low about 2690 or so which if you do the math is midway

between the low we saw in December 24th and the recent high in the S&P 53025.

Carter will be on, I'm sure he'll speak to levels, but those are things you're looking for.

In terms of does it make sense?

I think it makes a lot of sense.

And I'll say this as well the gold market has been

telling you something this something like this been in store for the last few months

...