A painful Monday on the street, all the major

averages selling off the Nasak now officially in a

bear market finishing the day down over 3.5%.

The S&P down nearly 3% and the Dow finishing this

red Monday just under 800 points lower.

Welcome to Fast Money.

I'm Melissa Lee, live from the Nasak market.

I'd here to break down all of today's action.

Tim Seymour, Diodami, Dan Nathan, and Courtney Garcia

of Pain Capital Management.

And we start tonight with a catalyst for the sell off,

the great spike in oil prices.

WTI crude, surging at one point this morning above $130

of barrel for the first time since September 2008.

It is now up more than 25% in just the past week.

And that move pushed stocks deep into the red.

The S&P seeing its worst day since October 2020.

The Dow closing below $33,000 for the first time

since last March, both those indices now in correction

territory in the Nasak now officially in a bear market,

closing 20% below its all-time high.

Take a look at the reopening trade on a day when New York

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