 And there it is, the east out of the closing bell at the New York Stock Exchange, ending another trading day on Wall Street. The Dow Jones tumbled today, it closed down at about 450 points, erasing most of Wednesday's gains. The S&P 500 and the tech-having Nasdaq both suffered losses as well. Both are down over 2%. Melissa Armo joins us now for more on all of this. She is the founder and owner of the Stock Swoosh, an educational company that teaches its users to trade stocks. Melissa, welcome. Great to have you with us. So, what drove the markets down today, erasing all of yesterday's gains, essentially? Well, there's a lot of things that are making the markets sell off right now. We've been selling off for the last few weeks, but one of the big drivers for today was Apple. Apple's a large part of the QQQs, which is one of the ETFs for the market. And it fell off the cliff today because iPhone sales have slowed down. They're slowing down production. They're not getting as many new orders to buy phones as expected. So that really drove the market down today. And of course, a lot of fairs on higher interest rates, inflation, recession. And we also have a big number, a big data point tomorrow, which is consumer sentiment. And I think the market is scared that the number could be bad. Well, we were encouraged yesterday when we saw some gains, but obviously that's all been wiped away. I'm wondering, Melissa, is Hurricane and Tropical Storm now, Ian, having any effect on the markets today? I don't think that's had any effect on the market. Just like you mentioned yesterday, we had the hurricane too when we rally. Now today we fell. I think it's just a matter of a long term. What's happening right now is people are very skittish and they're in fear. They're panicking. People that are along the market for the last six, eight, 10 years are getting scared now. They didn't get out of the highs at the beginning of 2022. Now they're feeling the need to take profits because they're concerned that we could drop all the way down to where we were in March of 2020. And I know that sounds crazy, but we could actually fall that far in the market until this is all said and done. But, Melissa, we still have these really confusing indicators, right? Because first time jobless claims hit a five month low despite the Fed's efforts to slow the labor market. Meanwhile, the nation's GDP shrunk in the second quarter, right? Some people are saying it's a recession, not a recession. Mortgage rates are skyrocketing. So some of these indicators don't add up. So can you break this all down for us? Where does the economy stand at this point in time? Maybe that's a rhetorical question. Well, remember when we get these numbers, there are always things that happen in the past. So the market is always looking forward to what's going to happen in the future. So yes, you're right. We have had some good data points. The numbers still show that unemployment is low, actually. But at the same time, the Fed is going to continue to increase rates. So as crazy as it sounds, if actually we had a bad unemployment number, the Fed might actually take a break from raising rates. Because we've had fairly good numbers here, because the claims came out this morning not worse than expected. The unemployment claims were the weekly claims. The market got spooked again and sold off. Because again, if we have rising unemployment, which is still not good for the economy, but if we would, then the Fed would slow down on raising rates. So we're at a very difficult point here. You say, good news is bad news and bad news is bad news for the market. So that's unfortunate. But the problem is that unemployment gets worse. Then we go into a random recession. Now they could be six to 12 months before the data really shows in the unemployment numbers that actually we hit up over 4% or even over 5%. It's going to take a while. People aren't ready to just quickly lay people off because they've been having a hard time hiring people since Coke. They're falling onto the employees that they have for now. Good news on that. All right, Melissa Armo. Thank you. Thank you.