Live in the NASDAQ market tight overlooking New York City's Times Square.

This is Fast Money.

I'm Melissa Lear.

Traders on the desk for Pete N and Jerry and Tim Seymour, Dan Nathan and Guy Dami.

A Tuesday tumble is another rate shock hit stock so where are the markets headed from here?

We are digging in also ahead a $16 trillion warning from a top Wall Street strategist

why he says the biggest bubble ever is about to burst.

And later, Costco craziness, this one picture that tells a tale of two

chinas.

But we begin with today's market action stocks going on a roller coaster ride

as yields move lower the bond market

sending out its clearest warning yet that a recession could be coming with the

yield curve at its deepest inversion since a great recession so is now the time to start worrying. We asked this question because initially

when the yield curve inverted we said oh it only lasted for a couple of hours no big

deal here we are what is it two weeks later it has been at near or inverted for

the past two weeks all the three's tents been back back in May three months ago

true so now we have all these indicators flashing recession, recession, recession.

Should we be worried, I think, but I think with worrying comes and, you know, Peters is the world

all the time, trading opportunities.

I think that's what you have now. He said

something a couple weeks ago, it stayed with me. The volatility is going to be volatile and I agree

with that. I'm going to say something. I'll say it again. I've been pretty steadfast. I think the market

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