Right now in fast the fed raising rates by a quarter point and signalling increases are

near and end but Chair Powell continues to warn the market that we still don't know

what the ripple effects from the recent banking crisis will be and that the inflation

fight is far from over plus a new buyback blame game in Washington the Sea of Norfolk

Southern grilled about weather cashews and buybacks should have been used to improve safety

could this open the door for Congress to target other industries like say the banks.

And later Lulu bucking the trend on a downward dog of a day a fine print on Carvana's

new debt offering and Moderna on the defensive on Capitol Hill.

I'm Melissa Lee this is fast money we're live with the Nasak markets that you've got

a full house here on the death tonight.

Tim Seymour, Karen Feinermann, C. Brasso and Guy Adami and we start off with the markets

post fed sell off the Nasak rising as much as 1.3% initially after the central bank

raised rates by a quarter point but it gave back those gains and more as Fed Chair

Jerome Powell suggested the fight against inflation isn't over.

Future markets are closing at their lows of the day and take a look at some of these

intraday swings in big tech Microsoft meta apple all reversing core sharply as Powell

spoke.

So what do you make of the markets moves today it feels like we didn't get anything that

we wanted I mean the banking crisis effects are TBD we know that credit standards are

going to be tighter lending is going to be tighter they're not going to be done raising

necessarily so yeah I'm going to go out on a limb here I don't necessarily think it

was Jerome Powell that got the market cascading lower.

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