we have bob pisani, scott wapner, rick santelli, and bertha coombs from new york. let's go to robert pisani, what you can tell us in summary? >> the important thing is it was allows city day for people who have been arguing that the u.s. was decoupling from the rest of the world. we had been outperforming until recently. but look at the way we performed compared to the rest of the world. we were down 2.3% on the s&p 500, but the rest of the world had a pretty tough time of it overall. spain was down 5.4%, brazil was down 3.4%. right across the board it was a pretty ugly day. about the line is we're doing bad, but the rest of the world is a lot worse. european banks had a horrible day and it wasn't grees oig,s it was the concerns about spain, although the spanish prime minister said it was utter madness all stupid speculation. nonetheless look what thoops some of the big banks. how about the u.s. markets? right here remember financial reform is going on right now. they will be voting on some amendments, maybe even in the next few hours. bottom line is the stocks tha

rick santelli here. what a wild day. as we go into our closes, something unique is happening. let's look at the fixed-income market. the best performer, whichever way you want to look at it, with the biggest move downward in the yield is the five-year. 231, closed basically at 237 yesterday. well off the lowest yields. let's look at the currencies where all the action's act. see the euro? it's sliding down again. we saw the effects right by me, when it was actively dropping like a rock, a lot of sellers had to cover. and a lot of them now reselling. and that's kind of brave, considering you can look at the dollar index, the mirror image, and the more that beefs itself up, the more you see equities move down. we have both central banks meeting tomorrow 7:00 and 7:45 eastern. >> thank you very much, rick santelli. the hearings just wrapping up. you can see -- i believe that's mary talking to allen schwartz. i think i saw her there. it looks like -- yeah, that was mary. looks like obviously trying to get allen schwartz to talk. jimmy cayne will be or has already walked out of the

let's get back to rick santelli at the cme in chicago for the latest. rick? >> absolutely. the currency market's wild. we'll start out with a quick chart on the yield curve where the tieest for the entire year in terms of the steepness, the difference between tens and twos and to that currency story, you're watching a bit of history. something we haven't seen in a little over 12 months and that of course is the euro on this intraday chart, briefly traded under 1.30. i saw a trade of $1.29.95. now that's a small violation but there's plenty of trading this week and many are paying close attention to some of the sell stops that might be protective below the market in case of a sell-off. will they be trigger? something to pay attention to. now if you want to take a look at what's going on in broader detail just consider some these spanish breaks like santander. this stock is down about 10% today. look at it's performance over the last year, and there's some talk today on the trading floors about insurers and reinsurers. what type of european paper are they holding in the conte

thank you very much, rick santelli. i'm here now with bob pisani.you seemed a little -- it was a little bit below expectations. look, we bottomed way back in, i think it was the end of 2007 on the ism services number. i think we bottomed at 40 or 39. so, it's been getting better, and all the components of it have generally been getting better as well. i'll tell you what's really important today, erin, is that we're moving in relation to the euro, and that doesn't happen often. but as the euro has rallied here, since we've opened, our market has done better. we essentially opened at the lows today, down 100 points on the dow and sort of cut that. looking at the chart of the euro, the euro has strengthened as well. our market has done a little better. clearly, this idea of what's going on in europe is affecting how we're trading these days. the other thing is the european banks have been terrible all throughout the morning. >> right. >> those, too, are off their lows here. your usual, deutsche banks, irish banks, they're all looking a little bit bette

bob pisani, scott wapner, rick santelli. mr.rst. >> is my e-mail filled with traders that are bearish, decoupling the idea the u.s. will do better, it is not working today. if you compare it the way the rest of the world is trading we are still down not as much as everybody else. the s&p is down little over 2%. compare that to where we have been ending off the other ones. spain was down 5%. russia down 4%. brazil is down 3%. right now, still trading. germany ended the day down all of these markets have a considerably worse than ours for the last several weeks. clearly we are not decoupling but not dropping nearly as much as the rest of the world. how about the european banks? all down. noticeably. 48%. ale

to rick santelli in chicago. >> thanks, judge. obviously it has been a wild day. treasury definition of wild is lower yields. let's start with the higher yields and look at a two-year greek maturity. you see it is up over 350 basis points or at least it was. things moving around quite a bit. if you look at a multiyear chart, center stage, currencies delivering the news rather efficiently. quickly today. as we now are getting ever and ever closer to the 130 level. hey, let's look at a couple of spanish banks. if you want to see some real action, the two-week big -- if you look at those, you can see those are one-ier charts. you can see they are down in the neighborhood of 10% today alone. these are all situations to monitor closely. let's go back to trish. >> okay. thank you, rick. okay. we are back here in the panic room with jim cramer and plenty of panic out there in these markets. wouldn't you say? you know, i think the important thing to remember is you don't need to panic. you can actually stay one step ahead of this by predicting what those that are really p

. >> let me bring in diane and our rick santelli at the cme. diane, your take? >> i agree with joe.ntinue to see very modest job growth and even small business. i've been talking to a lot of small businesses over the last couple days. they're still reluctant to mire along with large corporations. we are starting to see a little tipping in schools saying they're reporting that their graduates are starting to get better outplacement. even graduate mba programs. i'm affiliated with a couple in the midwest. i agree with joel, the quality of the census workers, the down side, you do get quality census workers. you just don't need as many. so you're not getting as big of a kick from those temporary census workers as we thought. >> a friend of mine took the census test and scored a perfect 100. and he is being stalked, literally stalked, by census. and he doesn't know if he wants to go do this or not. i mean, that's extreme, but it's an illustration. >> it's exactly those test scores we're talking about. the average scores are a good deal higher this time around than they were ten years ag