Live from the NASDAQ market site in the heart of New York City's Times Square.

This is fast money, so here is what's on tap tonight.

The wallet warning, the Fed Governor governor suggesting the Central Bank will be

modest in its rate cuts this year. His comments sending stocks dropping and yields

and the dollar rising, so should investors brace for more hawkishness out of the Fed and

what will it mean for markets plus grounded shares of Spirit Airlines closing at a record

low as its merger with JetBlue gets called back to the gate.

The impact is having on other airlines and how to trade that industry.

And then later on, gold stocks losing their luster as the miners see their worst day since February.

A semi-stand out with AMD trading close to record highs and then cannabis stocks get a green

light so is it time to get into some of these names? We'll debate all of those

topics coming up. I'm Dominic Chu, in tonight from Melissa Lee, coming to you live from

Studio B at the NASDAQ market site. On the desk tonight, Tim Seymour, Dan Nathan,

Guy Adami, and Rebecca Patterson, former chief strategist at Bridgewater Associates. We will

start with that sea of red on Wall Street today, the Dow dropping nearly 400

points at its lows, though it closed as you can see well off those levels.

The S&P 500 and Nastec also down with the Tech Heavy index ending a six day

winning streak. The moves coming as the benchmark 10-year Treasury note yield

jumped back above the 4% mark this after Fed Governor Christopher Waller

sparked some uncertainty over where interest rates could be going. Waller saying

cuts are likely to happen this year but indicated the Fed should take its time in

bringing those rates down. It counters the streets hopes for more aggressive rate

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