Live from the NASDAQ market site in the heart of New York City's Times Square, this is fast money.

Here's what's on tap tonight.

Heading higher, 10-year yields at levels not seen since April, and the rapid move in the last month, having an outsized effect on some sectors,

we go under the hood to find out what it says about the market.

Plus a quantum conundrum, the stocks tied to the next level of computing technology

plunging after a massive recent run. What spooked investors and where the trade goes from here.

And later, fast money turns 18 today. We'll take a look back at the humble beginnings of the show

and a look ahead of just how much has changed in the business world and markets since day one.

I'm Melissa Lee. Coming to you live from Studio B at the NASDAQ.

On the desk tonight, Tim Seymour, Karen Fireman, Dan Nathan, and Guy Dami.

That's not them.

Oh, whoa.

It doesn't look like me.

Here they are.

Whoa.

Here they are.

A little bit older.

But surely wiser on this past lot of birthday show.

All right, but before we get to the celebration, we start off with rates ripping higher the 10-year yield up 60 basis points in just the last month.

The move putting pressure on major averages, the Dow losing 4.5% in that period.

The S&P 500 down nearly 3%. And the NASAC dropping almost 2%, but a closer look may suggest

that even bigger problems are looming.

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