. >> tom: we've got full market coverage, including analysis from kathleen gaffney, who manages a $20 billion bond fund, and a look at the wreckage in stocks with equity strategist lincoln ellis in chicago. we begin with lincoln. any trigger for the selloff that you saw today in the stock market? >> i think paul's comment over at morningstar are right. really, the cumulative effect of a number of things, really weak consumption numbers early in the week followed by very lackluster labor numbers this morning and, of course, that's all with the backdrop of a very volatile and dangerous european equity market where they don't seem to be able to come up with some policy responses to stem the bleeding, so it's very much the aggregate effect weighing on the stock market. >> tom: you lived through the stock bubble and the flash crash. was this orderly or did you sense a throw in the towel? >> no, it was orderly, reflected both in stocks and bonds, the orderliness of both buying and selling. the breadth and volume as you point out at the top of the show absolutely massive, almost three times

. >> tom: we've got full market coverage, including analysis from kathleen gaffney, who manages a $20 billion bond fund, and a look at the wreckage in stocks with equity strategist lincoln ellis in chicago. we begin with lincoln. any trigger for the selloff that you saw today in the stock market? >> i think paul's comment over at morningstar are right. really, the cumulative effect of a number of things, really weak consumption numbers early in the week followed by very lackluster labor numbers this morning and, of course, that's all with the backdrop of a very volatile and dangerous european equity market where they don't seem to be able to come up with some policy responses to stem the bleeding, so it's very much the aggregate effect weighing on the stock market. >> tom: you lived through the stock bubble and the flash crash. was this orderly or did you sense a throw in the towel? >> no, it was orderly, reflected both in stocks and bonds, the orderliness of both buying and selling. the breadth and volume as you point out at the top of the show absolutely massive, almost three times