Your May market playbook: Markets drop over 2% to kick off month

April was a good month for markets, but May didn't start off as well. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Guy Adami, Brian Kelly and Steve Grasso.

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[rickblair]

4:00 smartest point Grasso ever made, way sharper than his comment at 6:50.

[ThuTroothHurtz]

Food inflation is a supply/demand conversation not a Fed conversation.

[makster]

Great discussion guys. More of this please.

[zyndeij]

Listen to the current rhetoric on cancelling chinese debt and threats of retaliation. Would you buy an asset that would likely see unilateral delinquency? If you can cancel debts with China, what's stopping you from doing the same with Europe (hey East Coast virus are similar to the ones in Italy, they are covering up, no more debt...). This is adding to a backdrop of ballooning debt nationally and privately of US where debit is skyrocketing whilst credits are diminishing. The rating agency even if they're American will have to cut the credit rating across all classes of us debts. If Trump and especially Pompeo who are actively seeking trouble in South China Sea over does it, the growing hawks in China just might decide to unify Taiwan because of mounting pressure internally, the obvious ineffectiveness of dovish posture, the domestic military industrial complex and the fact global opinion is not going to be any worse. That going to tank the Asian and broader market even if the action is limited to retaking of the jinmen islands just offshore from mainland China.

[HanOvaFist]

Since when do food prices have a temporary rise? As long as I lived when prices rise at grocery store they remain higher.

[conduit]

It’s nice to hear these folks criticize the ridiculous inflation calculation used by the Fed

[CloseBoysAdventures]

Everyone looks clean cut for not able to get a haircut in nearly 2 months

[sruler]

I like Timmy’s office there. The Gilead stuff isn’t much news - in the most severe cases it may reduce the hospitalization time from 14 to 11 days - whoopdedoo

[JP-tdyx]

It’s hilarious. They don’t have a clue why the market is down 😂

[taylorharty]

I don’t think it’s that wild. Bond yields are just so low and the Fed continues to dial back purchasing. Demand has been removed from the Fed cutting way back but yields still marginally fell. There was some still some demand even after the massive yield crush in the last 6months.

[patrickmartin]

Every food product like meat or produce that requires ppe for workers has jumped 3 to5% in the past 6 weeks. Production is slowed.

[edrock]

Big money needs a dip to buy and then dump on the way up again.

[KK-pmud]

Yeah. Smart people have seen Melissa's point for a month now. The problem with relying on the mainstream to understand this virus is you get high level statements like total cases in the US and the World. However the largest cities impact the numbers just like the largest companies impact how the market indexes move. What is happening is smaller areas is where we should be focusing at this point...not mature and stabilizing large cities.

[stevedalley]

Is Trumpy going to play hard ball with China/tariffs leading into the election?

[CheckThisOut]

CNBC obviously does not know what is going to happen.

[marthak]

Bond action today: It was May Day and most world markets were closed.

[ronaldronald]

Market-manipulation ???? Sentiment controls the market at this stage like an Arachnophobe sticking his or her head in a spiders nest.

Question: What influences sentiment and how controlled and purposed is that influence. Have a little peek under the surface and be surprised.

[TonyToneFixMyPhone]

See how many times per minute that guys eyes blink per minute. The guy with the dent in forehead.

[davidl]

This is probably another mini short covering like CNBC "experts" who thought another re-test of the lows would have happened by now. But the truth is this market is so forward looking it brushes aside real data, it doesn't help that the Feds is proping up the market which basically rendered alot of the data useless.You can try to guess when/if the re-test of the lows will happen, but its just pure luck. I would not be shorting anything these days, better to just go-long and wait out the storm.

[samstone]

When the four Senators buy back there stocks I am back in.