the's lineup, guy adami, tim seymour, dan nathan, and jeff mills. we're going to start off with the massive sell-off on wall street it makes the most sense because stocks plunging today. the s&p 500 dropping more than a percent and a half the dow posting the biggest loss of the year. every single s&p sector finishing in the red new fears over rising cases of the delta variant, putting the reopening at risk. investors rushing to safety, sending the yield on the ten-year treasury to the lowest level since february, below 1.2. so let's break down today's brutal sell-off. guy adami, what is your take on the day? what a way to start the week >> yeah, it's interesting. hi, courtney brutal, i understand why you would say brutal i get it worst day we've seen in quite some time. >> actually thought it was pretty orderly i think dan would probably act nj that as well. we talked before the show. it was necessary as well the technicians out there, i'm sure jeff and tim have thoughts be, the 4230 level, 50-day moving average bounced off of that for me, each thou

tim seymour, karen finerman and jeff mills and hello, everyone thrilled to be here. we might as well get right to it markets losing steam in a big way at the end of the session with the s&p closing near the lows of the day. all three major indexes snapping three-week winning streaks strong results overshadowed by inflation concerns the latest data shows the inflation expectations at the highest level in 13 years, guys. so does today's action raise a warning sign for stocks? tim, let's start with you. how are you reading this going into another busy earnings week? >> well, first of all, deirdre bosa, you know, welcome to the show and i think we now have to -- because we have nicknames and i think we need to crown you as deebo. i think this is from the ambassador or from the icebreaker, bonin and eisen or from the chairwoman, karen finerman welcome to the show. we have been talking all week about some of the disconnect between the headline indices and where you're seeing an approach to risk and some of the cyclical sectors have pull back the disconnect between powell's

jeff bezos: i can't believe you are still smiling. thank you. ms. mills: we will take a few questions and then pose for a few photos. rachel, why do you not start? cnn. rachel: congratulations. the work you are doing with blue origin is important for your career. you recently stepped down as ceo of amazon. jeff bezos: i will split my time between blue origin and the bezos fund. the latter is about climate change and sustainability in those two things -- and there will be a third thing. and maybe a fourth thing but i don't know what those are. i'm not good at doing one thing. hell yes. how fast can you refill that thing? let's go. ms. mills: next question. let's go with reuters. >> [indiscernible] ms. mills: erica acts about the -- asked about the cadence and capabilities. jeff bezos: we will fly human missions twice more this year. what we do in the following year, i am not sure yet. we will figure that out and what the cadence will eventually be, we want it to be very high. thing we found out is the auction process and what we have been doing its private

mills: i think you had one more thing. jeff bezos: i have one more thing. i have a little surprise for you. i am announcing today a new philanthropic initiative. if you would put the slide up so people can see it. it is called the courage and civility award, recognizing leaders who aim high and pursuit solutions of courage and do so with civility. well, let me tell you how i feel about this. i feel strongly enough to throw something down. we live in a world where sometimes, instead of disagreeing with ideas, we question character or motives. guess what? after you do that, it is hard to work with that person. what we should always do is question ideas, not the person. ad hominem attacks don't work and have been amplified by social media. we need unifiers and not vilifiers. people who argue hard and act hard for what they believe, that they do that with civility and never ad hominem attacks. we live in a world where this is often not the case but we have role models and this award --do you have another slide? go ahead. i didn't tell you what the award was. i

jeff bezos, i'm looking at you. whatever form you have your assets diamonds, yachts, paintings, there should be a tax on that. a tiny bit of tax and only those with $50 mill to college, to pay for all those roads and bridges. >> a lot to unpack there a system for jeff bezos to have an idea and dream and to turn all of that into jobs and all of those that pay taxes, billions of share holder wealth changed our life kept inflation down so we could maybe spend more yet somehow, politicians are able to look at this guy like he's a detriment to society. a lot to unpack. where do you want to start >> i'll say it is repulsive to demean and put a target on the back of the most creative, productive people in our society. the ones who risk everything not everyone delivers. he has i think entrepreneurship to punish people to make them out to be the greedy geniuses and the patronizing attitude to the rest of us the idea that they have to be protected and pay at the front of total taxes collected and to say it is just 2% or 3%, you are alienating this tiny group which is unhealthy we are all members of the same society we are supposed to be a neighbor of laws if they d