Hey, everyone, welcome back to On the Tape.

I'm Guy Adami, and joined as always by my dear friend, Dan Nathan and Danny Moses.

Listen, the market's crazy.

We're taping this on Thursday the 25th.

As we speak right now, the Dow's down about 400 points.

So there's about 45 minutes or so left in the day.

So for me, the top story is the market.

But Danny's got some views on ETFs and what's going on with ARC, but I want to get into it right now.

We've been talking about interest rates for quite some time, and I know it seems boring and makes your eyes glaze over.

But as we sit here right now, U.S. 10-year rates are now

north of 1.5%. And I got to be true to myself, I've said for a while, the line in the sand in

terms of where the market's going to take it as a tailwind into a headwind is going to be 1.5%

in the 10-year. And here we are. And I think the market's finally realizing that,

hey, wait a second, maybe higher yields are not such a good thing. And oh, by the way, maybe a

falling dollar is not such a good thing. And oh, by the way, the foundation with so much of this

market's been predicated and built on is zero interest rates. And the MAGA complex that Dan Nathan talks about all the time,

the Microsoft, the Apple, the Google, the Amazon, maybe they are subject to a bit of a tailspin.

And if you lose those mega cap stocks, is the broader market going to follow?

And what I found to be fascinating today, although the banks have participated on rallies and the banks have done

well on selloffs, today's a day where the banks are starting to give it up as well.

And I tell you, I think we can come back in a month, month and a half, two months and say that

February 25th was a turning point for a number of different reasons. You have to watch bond yields,

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