As you folks have come to know, I'm a bit of a classic rock junkie, as it were.

And a band going back, way back, Danny Moses, consisted of the following performers.

Stephen Stills, Neil Young, Dewey Martin, Jim Messina, and for you, old-timers, Richie Fureure, and I will tell you, those are the members of Buffalo

Springfield. By the way, you're listening to the On the Tape podcast. I am Guy Adami, always joined by

Dan Nathan and Danny Moses, except this week, Dan Nathan is on vacation, well-deserved, much-needed vacation, but he stuck around to have a conversation with us with the great Terry Duffy, the CEO of CME Group.

So stick around for that.

But the reason I mentioned Buffalo Springfield, Danny, as you probably know, one of their great songs is for what it's worth.

There's something happen in here.

It's exactly right.

There's something happening here, but what it is ain't exactly clear.

Well, if you've listened to the On the Tape podcast, it's been crystal clear for Danny

Moses for quite some time. And as we sit here on this

Thursday afternoon, obviously a lot can change by this time tomorrow. But the S&P is now below that

200-day moving average. We're looking at 3930 or so in the S&P. Dow Jones down 400 and changed.

The NASDAQ giving it up a bit as well. And Danny, we have a VIX that's now north of 21. So we're going to have a great conversation with Terry Duffy. We're going to talk about some of the things that he's talking about and he's seeing. He wrote an op-ed in the financial times that we will discuss. But what strikes you, I mean, other than the obvious, the market, there are a lot of

things under the surface, Danny, that are absolutely concerning. Everybody look, what's going down.

Everything's going down. So, all right, except the VIX guy, to your point. So there's a couple

things that are happening here. Let's start with the most recent and work our way backwards.

Effectively, we've had a bank failure for the most part with Silvergate and people said,

okay, that was crypto, only not a big deal. Some of those crypto clients went to signature bank,

SB&Y. You can see what's happening to that sucks. So people believe that they might be in trouble.

And then basically late yesterday, you had Silicon Valley Bank. Kudos to Jim Chano's, Porter Collins, Vincent Daniel, and the lost art of single stock shorting and really doing bottom-up analysis of understanding that, again, yes, it's a bank.

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