announce tomorrow a brutal attack on the coal industry. but i beg to differ. climate change is not manmade. there s no proof of it and the president is once again going down the wrong road. all these stories and more coming up on the kudlow report beginning right now. we begin our special coverage with another wild day on the markets. we have cnbc s own josh lipton at the new york stock exchange. good evening. reporter: good evening. we had a volatile day. finished off the lows of the session in the red. the dow finished down 139. still major benchmark indexes finishing near two-month lows on heavy volume. concerns about fed tapering. chinese liquidity issues, worries a credit crunch there will contribute to a weakening of a economy. we saw a bounce in today s session as the market stanged a big comeback but yields move higher. you could see it in some bond etfs. we also had a lot of fed speak, including richard fisher, the dallas fed president, reportedly saying the fe
tightening. the fed-induced sell-off continuing and a big way as we approach this final stretch. you see the dow down 2.3%. the nasdaq is down 2-plus percent and the s&p down more than that. the markets believe this is the appropriate time to step out and troy to price what a world without fed management would look like and it s not going to be pretty. so what we have, bill, is a contest between the market s fears over the end of tapering and the fed s cash. i believe the fed head ben bernanke launched a major de facto tightening during the news conference yesterday and you may not know what the timing is. and what they ll even look like. good evening, everyone. i m larry kudlow. welcome to the end of a wild week on wall street in washington and all over the world and even as the weekend begin, the question remains, what will happen to the markets now that the fed has decided to taper and tighten. what about the rest of the markets like gold, oil and bond rates? this
now it s time for call to action on stocks to watch during afternoon trading. cnbc s matt nesto is here with a look. hello, matt. ? hey, larry. you know what s interesting, there is a dow derby. we have four dow members that have reported. two up, two down at last check. the intraday turnaround of dupont. it opened down low and it is moving higher. it s about 0.8% higher, but verizon continues to be the worst performer in the dow today and travelers, one of the best. if you take a look at the interday battle between insurers and the telecoms, well you ve got one up and one down, both by about the same amounts and those two stocks are having a spillover effect right on through their particular industry groups. take a look at u.s. steel. that stock has shed more than 20% since earnings season began with alcoa on january 11th. oh, that s just hideous. another 9% giveback here today. just nothing good coming out of the big x. zion, the same cannot be said. the company certainly