Late Day Sell-Off May Signal Trouble Ahead, Plus the Conversation Sure to Feature Highly at Your Thanksgiving Table

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.9 • 1.3K Ratings

🗓️ 22 November 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

The S&P dropped in the last hour of trading after spending most of the day in record territory. This, as 2-year yields and the dollar spiked, and high-valuation stocks like Palantir and DoorDash plunged. What the move says about the strength of the market. Plus it’s that time of year when families gather around the table to discuss...crypto! What that could mean for prices in the coming weeks. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Live in the Nasdaq market, I did New York City Times Square, this is Fast Money, I'm
0:05.9	Melissa Lee.
0:06.9	Tonight's Trader Line up, Tim Seymour, Dan Eighth and Brian Kelly and Guy Adam, and he'll
0:10.0	be here in just moments.
0:11.1	Tonight on Fast, we're all over the after-res action cheers to Zoom, the stock turning negative
0:15.2	after a post earnings pop.
0:17.0	The company's call is just kicking off of bringing the latest from the quarter straight
0:19.9	ahead.
0:20.9	Plus, a bold call on Bitcoin.
0:22.5	One big investor says the cryptocurrency is headed to $250,000.
0:26.9	He'll tell us his timeline and how it gets there.
0:29.8	And later in the big rush, you're looking live at Chicago O'Hare Airport, his thousands
0:33.8	of passengers get a jump start on Thanksgiving travel.
0:37.2	We'll break down what's at stake for the airlines as we kick off a very busy week ahead.
0:41.6	We start off with a late day, sell off in the markets, the S&P tumbling the last hour
0:45.6	of the session despite trading and record territory for most of the day.
0:49.4	Meantime, two-year yields spiking to their highest level since March 2020 after Fed Chairman
0:54.3	J. Powell was nominated for a second term.
0:56.5	The news also sending the dollar rallying, the Dixie at its highest since July of last
1:01.2	year.
1:02.2	And take a look at what that's doing to some high valuation names, stocks like Rivian,
1:06.3	Airbnb, CrowdStrike, all plunging today.
	...

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