Art Cashin video: 'It's a fingers crossed day'

Art Cashin says traders are keeping their "fingers crossed" as they watch the yield on the 10-year U.S. note.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Mary Thompson that if the yield hits 3 percent it could hurt the housing market.

"If we get close to it, I would expect to see bids canceled as we did earlier today." If too many bids get canceled, that could cause an "air pocket."