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THERE YOU HAVE IT, THE CLOSING BELL AT THE NEW YORK STOCK EXCHANGE, SIGNALLING THE END OF THE TRADING DAY. U.S. STOCKS LOST MOMENTUM TODAY AS A SELLOFF IN GOVERNMENT BONDS HIT NEW HIGHS. THE DOW JONES ENDED THE DAY DOWN AROUND 360 POINTS. THE S P 500 FELL AROUND 1%, ERASING EARLIER GAINS. THE NASDAQ FELL 2%, ADDING TO LOSSES AFTER A NETFLIX SELLOFF OCCURRED ON WEDNESDAY. JOINING US TO TALK MORE ABOUT THIS IS PROFESSOR PETER MORISSIE, PROFESSOR AND ECONOMIST AT THE ROBERT H. SMITH SCHOOL AT THE UNIVERSITY OF MARYLAND. THANK YOU FOR BEING WITH US. WHAT WAS DRIVING THE MARKET TODAY? WELL, I THINK TODAY PEOPLE WOKE UP AND LISTENED TO THE SAN FRANCISCO FED THAT SAID WE REALLY NEED TO RAISE INTEREST RATES QUICKLY TO ABOUT 2.5%, QUITE A BIT AWAY FROM WHERE WE ARE NOW. THE MORTGAGE INCREASE AND SUCCESSIVE MEETINGS TODAY RGS THAT HAS RAISED THE TREASURY RATE. WHEN INTEREST RATES FIRST MOVE UP, IT SHAKES UP THE MARKET. PEOPLE BECOME FEARFUL, ESPECIALLY THE TECHNOLOGY STOCKS THAT DROVE