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Katherine Ross: Are the algorithms taking on non China news headlines. Bob, I want to start with you.

Bob Lang: I do believe that's happening. In fact, what's interesting is, I don't know if we saw last week that JP Morgan came out with a new index called the Volts safety index, which is a really an algorithm that is triggered on Tweets from President Trump, which they've done some research and shown that the more Tweets that he puts out there, the higher the volatility goes. So it's kind of interesting , and whether they're related to China or not, these Tweets are increasing volatility in the markets and causing a little bit more wreaking habit, but so to speak and bringing price action to the fore.

Steve Sosnick: I think the short answer your question is yes. The longer answer is you can say, you could basically substitute anything for China or non China. It doesn't matter at this point, algorithmic trading is here and it's here. It's here to stay. And essentially you can create ... If you see a pattern, you can look for it. You can create an algorithm to look forward, or you can now have your machines looking for prep patterns as well. The question is, how long of a correlation are you looking to trade off in the case of what Bob mentioned, the JP Morgan, I'm not particularly familiar with that one, but the half life of a Tweet is very short. You can also be doing longer term trades. You could be doing news reading, the long and the short of it is, it's the same stuff that people have been doing forever, just faster and having a machine to do it for them.

How are algorithms impacting the markets?

Steve Sosnick, chief strategist at Interactive Brokers, and Bob Lang, Real Money contributor, sat down with TheStreet's Katherine Ross to talk about algorithms, the Fed and fall trading.

Lang, when asked about how algorithms are impacting the markets, discussed JPMorgan's newest index, the Volfefe index, which tracks President Donald Trump's tweets and their impact on treasury yields. 

And Sosnick said that algorithmic trading is "here to stay."

Watch the full video for more. 

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