Good monday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan and jon fortt at the Stock Exchange it is a historic day of trading. We will begin with the selloff which did include a break with Circuit Breakers richard on the stress test for stocks, mike santoli on the crude awakening in oil prices as the saudis launch a price war. Rick santelli on a bad yield trip for treasuries and Steve Liesman on the fear and the feds response bob pisani, lets begin with you and think about whats important this morning. Whats important is how did the system respond to the immense stress that we had today. This is the first real test of the margin Circuit Breaker system set up back more than 30 years ago and we did have a halt on the s p at 9 33 for 15 minutes. The by all appearances it looked like it went well it reopened understandably some bargain hunters there, a mild lift in the markets so the mechanics seem fine. What was distressing to see what happened to Oil Stocks Pu