Watch Cashin: This could spark 'outright selling'

Art Cashin says CNBC viewers and users need to keep watching the yield on the 10-year U.S. note.

Speaking after the Federal Reserve released the minutes from its December policy-making meeting at 2p ET, Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani if "we get up around 3.15 (percent) they'll start to put a little further pressure on stocks. And 3.25 can bring outright selling, I think."

Cashin said the Fed minutes indicate the central bank's staff is getting more optimistic about the economy's future, which could mean a quicker tapering, but "with no disrespect intended, however, the Fed staff is historically very poor at forecasting."

Contact Stocks


    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More