for jon erlichman, i'm katie greifeld.his is bloomberg. ♪ millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... add a line to your existing plan, or see for yourself how easy it is to save by talking to our helpful switch squad at your local xfinity store today. so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now, there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating, and losing weight. go to golo.com and see how golo can change your life. that's g-o

joining me is katie greifeld. monday volatility. where is the pain? katie: it was an ugly day, a sell everything kind of market, the center of that was the bond market. let's talk about the 10 year treasury yields soared 24 basis points, is dangerously close to a 4% handle. we have not seen that sense -- dangerously close to a 4% handle. we have not seen it since 2009. the u.s. bond market after the bank of england did not do much to calm any sort of nerves in the ripple effect, tons of stress correlations approached one. that's what happened today and it took a whammy of the stock market. we talk a lot about the nasdaq 100, we hear in the u.s. so much of the global make talk -- mega tech is on the u.s. -- nasdaq 100. we have seen the impact of the pound push higher. global tech has fallen. the nasdaq one is kind of outperformed a little relative to the rest of the tech stocks. katie: it was an interesting day, they closed a half a percent lower than the nasdaq 100. the s&p 500 was down about 1%, was not outperforming. it was thanks to the megacap tech

joining us to try to answer these questions is katie greifeld. the last couple of days, the u.k. has been the epicenter of action. how much leverage is left in the financial system? katie: good question. i went on a wild goose chase trying to find an answer. if you look at margin debt, it is still$687 billion, which is a lot but lower than what we have seen over the past two years. it has come down a lot. that makes sense when you think about the drawdown we have seen. many think that the institutional players, that has been hard to judge. we have heard that a lot of people may be going to cash. it is a scary market out there. hard to judge, but there is a letter for fear as we get into the second leg of this bear market that we could see more leverage blowup similar to our caterers. sonali: with pensions in the u.k., you've saw a lot of that hidden leverage. more than 10 years and leverage is going to take a long time to unwind. do you think that the market is trying to get back in my find that that could be painful as more trades could still be unwound? >> stepping in now is pai

joining us to break it all down, katie greifeld. katie: hi. good news and bad news.he good news is -- stuck together for the first time ever. the bad news, it was a terrible day in the stock market. the hangover from the fed wednesday continues. you can see the big tech stocks, that index falling over 1%. chips taking a beating, underperforming, down almost 3%. the riskier parts of the market really took it on the chin. you look at these unprofitable tech baskets, down almost 5%. all of this coming on the backdrop of higher and getting higher treasury yields. the two year yield raising another seven basis points. an ever more hawkish fed. but see with that relationship looks like. the two year yield versus stocks. you can see for a while, these two were rising together. now, the two year yield continues to climb, you are starting to see that reevaluation going on in the broader stock market. the s&p 500 nearing its lows from earlier in the summer. let's talk about specific single names. some of the travel names taking a beating today. expedia and airbnb both followin

straight to the markets with katie greifeld. katie: it was a cell or rib kind of day.he rally we saw yesterday? forget about it. s&p 500 down by more than 2%. a cascade of bad news. nasdaq off by even more. your big underperformer was philadelphia semiconductor's, all 3.3%. all of us coming against a backdrop of higher treasury yields. apple falling after one of the most senior executives at the company left after that crude tiktok. the bulk of those losses came after that. rare downgrade from bank of america. news from micron, earnings after the bell came in weaker than expected. we had a weak forecast. micron saying sales would be $4.25 billion, under expectations of $6 billion. shares dropped 4%. you can see a little bit of a push higher after hours. ed: i want to stick with that micron conversation and bring in joanne feeney, advisement capital management manager. micron seeing first quarter fiscal adjusted revenue, $4.5 billion. the estimate was $6 billion. some commentary around the slowdown of demand and supply catching up his astonishing. we are down more consi

katie greifeld with us for more. katie: two straight days we have opened in the green. two straight days u.s. stocks finish in the red. today, the s&p 500 down .8%. big tech closing down, not as down, but .6%. arc innovation etf, the poster child for speculation, relative outperformer today. still lower. all of this coming as we continue to digest commentary from fed officials sounding very hawkish that lifted two year yields up again. the philadelphia semiconductor index really led losses this is becoming a trend. we have seen this over the past four days, the index down over 9%. those chips, just really not catching a break. let's get specific and talk about some names. there was interesting corporate stories as you talked about. bed bath & beyond announcing its turnaround plans are going to shut 150 stores and cuts 20% of its workforce, trying to reduce cost. shareholders not exactly giving a vote of confidence. shares closing 21% lower. absolutely cratering. you can track that with what we heard from staff, also going to cut 20% of their workforce. investors clearly

joining us now is the host of etf iq, katie greifeld. >> you did see equity flows spill.you look at the broad-based flows into equity funds, $45 billion, which is not nothing but a lot less than what it has been. if you think about to qs, that number was $52 billion. if you look at the first quarter of this year, it was 154 billion dollars. there is inflows for sure, but definitely plunging a lot. if you look at where the money is slowing, -- flowing it is into broad-based funds, dti, which tracks the whole market. it is not specific that's necessarily if you look at where money came out of financials and em. guy: what happened to crypto this quarter? katie: crypto is interesting. the bloomberg intelligence team tracks global crypto funds. there is not bitcoin etf in the u.s. that are physically backed. if you look on the global level, the outflows were only $18 million on a global scale. if you look at last quarter, that number was a record over $600 million. i see stats like that, it seems like the marginal seller is gone. that would explain why bit coin for pretty much