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President of sea port securities, financial firm, and christina, i start with you. what's driving the spiral? >> what's driving the spiral is the party's over. it's the end of cheap money because investors in the stock market are looking over to the bond market, and they are seeing deals rise, and that's because of inflation fears and the fears that fed raises interest rates faster than previously expected, making it more expensive to borrow money, hire workers, undercutting the foundations of the stock market, which is earnings. that is what the stock market is concerned about. we're in an of...

Thank you all for joining us. ron, let's start with you. this is one of the days the dow's biggest one day point loss ever. what do you tell people who are nervous tonight when they are looking at where this day falls in the history of stock market plunges? >> well to put the day in perspective, ayman, if you go back to 1987, october 19th the stock market crashed 508 points. in that crash the market was down 23% in a single day. today when the market was down 1089 in the first minutes of trading that was the largest single day point decline but in percentage terms it was about 7, almost 8%. hi...