selling --ultaneous does the existence make people a little more comfortable that at least some of their hedges will work? obviously some of the emerging markets etf. the consolidation here, we consolidate the hundred and .oving average >> the most actively traded stocks are all declining. you don't have any gainers until 57. part, declines all across the board. >> to go back to the idea of price action as well as individual sectors. ,here were all sorts of stories in addition to whatever else is going on. saw inme that to what we the flight to quality. how important a driver is the rates market? this.ould say obviously, higher rates mean higher quality capital. equities have to compete more aggressively and decreased earnings visibility. i think the real bogeyman here .s inflation i think that is a big assumption to make. it is really going to drive more uncertainty about what central banks are going to do. break assuming the tenure the output gap smaller. tohink we are more likely have a higher range. the markets have to understand that. seens the calm we have calls us to get our calib