Fast money starts right now live from the NASDAQ market side

overlooking New York City's Times Square I'm Melissa Lear

traders on the desk are Peter Jerry and Tim Seymour Sue Grasso and

Guyadami tonight on fast a big night for earnings in video and Disney reporting moments ago.

Both those conference calls underway right now.

The stocks are volatile in the after our session.

Disney shares climbing back after initially selling off.

We'll tell you why in just a moment and James Stewart, author of Disney War and Fast Money

Friend will be here with instant earnings reaction, plus how likely he thinks the

AT&T time Warner deal is to go through.

But first, we start off with stocks getting slammed.

The Dow sinking as much as 250 points at the lows of the day before climbing back.

Still, the worst day for the Dow and the

S&P in two weeks this is the Senate GOP finally revealed the bill for its

tax cut plan so let's get to Elon Moy and DC for a breakdown on the

details that move the markets today.

Hi, Elon.

Hi, Melissa.

Well, the big news in the Senate plan

was that it delays the corporate tax rate cut by one year.

It won't take effect until 2019 and then it will go down to 20%.

The House also passed its version of a tax bill out of committee and there were some significant

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