Hi, I'm CNBC producer Katie Kramer, one of the voices behind the CNBC podcast, Squawk Pod.

In these times of uncertainty, we want to make sure we're bringing you, our listeners, as much information as possible, as quickly as we can.

That's why we're sharing with you now a CNBC special report, Markets and Turmoil. Listen in.

Welcome to our CNBC special report. I'm Scott Wapner. Volatility. The word of the day is

stock stage a major comeback today with the Dow erasing a more than 1,100 point loss and actually

closing up 99 points. The NASDAQ saw its biggest intraday reversal

since October of 2008.

So is this the sign of a bottom?

Right now, I'll take a look at futures.

Somewhat quiet, it is early, volume is light,

and we will keep on that throughout the hour.

I should also let you know Asia is open.

It's already trading lower and we'll follow that as well.

Also tonight, I'll be joined all hour by my friend and mad money host, Jim Kramer. We're going to

talk to CNBC experts and investors about whether this bounce can be trusted and what all of it

means for your money. First, though, a play by play of today's wild market action.

I would tell people, look, if you really want to know where to buy, keep your palli to try to the last half hour, but just the last half hour's been a nightmare. Markets are plunging an hour here into trade. Dow's off of the lows have about $750 to the downside. As much as I'm going to hate to do this, I'll probably be buying some stocks today. We've drifted lower, found some bids, drifted lower again. Whether it stays that way into the last hour of trading, that's going to be a key to watch. Take a look at the major sell-off underway on Wall Street at this hour. The Dow Jones Industrial Average now down by 800 points, slightly off the lowest levels of the session, but elsewhere, there is carnage

all over the place. The excesses we've seen in 2020 and 2021 are in the process of being wrung

out. You have to go back for the NASDAQ to October 2008 for the last month that was this

bad. We've got less than 40 minutes to go and the recovery continues. This final hour feels a lot

different than what we have been accustomed to in the last few sessions. 30 seconds left and unbelievably

we are up across the board for the three major averages. This type of action is just not comforting.

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