Market insight and analysis. You're listening to the opening bell of CNBC, Squawk on the Street.

Good Friday morning. Welcome to Squawk on the Street. I'm Carl Cantonio with Jim Kramer, David Faber, the New York Stock Exchange. The market will search for levels of critical support this morning as futures are down 500 plus.

Ongoing fears fears two-thirds of the

Dow's gains from all of last year are gone Europe down 4% consumer spending in France in

Switzerland negative in January and then twos threes and five-year yields are now being measured

in basis points the Dow plummeting 3,200 points in a week. That is the worst for stock since the

crisis. Yesterday, it experienced the biggest one-day point drop ever, 1190 points as we approach

the end of the red February for stocks. The Dow is the weakest of the three major indices,

down almost 9% month to date. Goldman, again, this morning, Jim's saying they don't think this is over,

and that buying the dip is, in their words, riskier this time.

Well, there's no doubt about it that there's a part of the S&P, and it's very good to look at individual stocks here.

They are just not viable, and I think that anything that's involved with travel leisure,

auto is slowing down housing because housing is slowing down.

And I don't think if the Fed cut rates, it would matter.

But we do need to talk about something that Lee Cooperman and I've always talked about,

which is that the algos are in charge.

I mean, I noticed this morning at three, what am I doing up at three?

The bond interest rates were way down, and the futures were, of course, way down.

And is that what people should be reacting to at three?

And the answer is, yeah.

I mean, these guys are around the clock.

They do, they don't make any sense to me.

...