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

Here's what's on tap tonight.

Rising inflation yields spiking here and around the world in stocks pulling back from records as inflation climbs to its highest rate nearly three years.

Are climbing yields a warning sign stocks should pay attention to?

We'll debate that.

Plus delivery updates out of Amazon and FedEx, eBay passes on

GameStop's offer. Surprise, surprise. Some big opportunity in small caps and a technical check on one of

guys' old clam stocks, why the chartmaster says one gold miner could be losing its luster after shining

bright over the last few years. I'm Melissa Lee. Come to you live from studio,

Biazzi, on the desk tonight. Karen Feinerman, Dan Nathan, Guy Dami, and Julie Beal. We start off with the inflation jolt that ripple throughout the markets today. Headlines CPI are rising

by its most in the three years, led by storing energy prices, though food and shelter costs

also rose sharply. That nudge of the S&P

fractionally lower, pushing tech stocks down nearly three quarters of a percent. But the real impact

being felt in yields here and around the world, Japan's 10-year government bond yield, topping

2.5 percent now at 29-year highs. Over in Europe, the UK 10-year guilt, hitting 18-year highs, while French and German

notes hit near 15-year highs with traders betting on ECB rate hikes. And here in the U.S.

Treasuries were weaker across the curve, two-year yields hitting their highest level since late March.

The 10-year rising almost five basis points, while the 30-year yield yield reclaim the 5% level. So what message

are all of these moves sending, Guy, what do you think? Well, inflation's a problem without question.

This is a global thing as well. And I think they're also global credit concerns, but they have

not manifested their way into our stock market for whatever reason. You know, we had a guest on last

night. He talked about

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