So much for a comeback. Stock's tanking after Wednesday's historic rally as investors game out high China tariffs and high uncertainty from Washington.

Though the major averages closing well off the lows of the session, that is the scorecard on Wall Street.

But the action is just getting started. Welcome to closing bell overtime. I'm Morgan Brennan.

John Ford is off today. We will be all over this precarious market and how to navigate it.

Throughout the next hour, we will have BlackRock co-founder and Evercourt Chairman Emeritus Ralph Schlaasstein and former Bridgewater Chief Investment Strategist Rebecca Patterson. But let's get straight to

this selloff. Joining me now is RBC head of U.S. Equity Strategy, Lori Calvesina and Vital Knowledge

founder Adam Krissifoli, along with CNBC's Megan Kasella in Washington with the latest on tariffs.

We've got Pippa Stevens on the plunge for energy stocks and Christina Partsonevilus on the sharp drop for tech yet again. But let's start this conversation with

Lori and Adam. Lori, I'm going to go to you first. Are we bouncing along a bottom here? Are we

trying to find a bottom? It's a great question, Morgan. And I think the same way prior to the

Rose Garden tariffs that the market was trying

to kind of testing that 10% down from peak level and really trying to hang on I think that's what the market is

trying to do in here 20% is an important threshold and we came very close to that earlier in the week at

our maximum point of pain we were 18.9% below the February high. And that's

important because if you go back and you look at that drawdown in 2018, which is very similar

conditions to what we have in the market today. You had a trade war. You had concern about

Fed policy or today not so concerned about the Fed, but other policy errors are under discussion.

And there was also extreme positioning and valuation for us to start the year. So that's a really good template for looking at

today. And we're getting very close to that maximum point of pain on some of the worst days that

we've had recently. Adam, want to get your thoughts on this, especially as you have different pieces

to the puzzle. You have the technical piece. You have the fundamental piece, especially as earnings really start to ramp up with the banks

beginning, some of the big banks beginning tomorrow. And then, of course, you've got the macro

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