Big real estate companies were hardest hit in Wednesday with shares of Simon Property Group [SPG] the No. 1 mall operator and Boston Properties [BXP], which owns skyscrapers and other office buildings taking the biggest hits.

Big real estate companies were hardest hit in Wednesday with shares of Simon Property Group [SPG] the No. 1 mall operator and Boston Properties [BXP], which owns skyscrapers and other office buildings taking the biggest hits.

"The mall operators are really, really in trouble," said Kevin Quinn, a managing director of equity trading at Stanford Group Company, mentioning Vornado Realty Trust [VNO] as a key player. "There aren't even signs on the empty stores in the malls. They've been empty for a while, barren, tumbleweeds blowing through."

But the trouble isn't just with mall and office REITs. According to Karen Finerman the trouble also lies with, "heath care property investors such as HCP Inc.[HCP] and banks such as BB&T [BBT] which has huge commercial exposure."

But the trouble isn't just with mall and office REITs. According to Karen Finerman the trouble also lies with, "heath care property investors such as HCP Inc.[HCP] and banks such as BB&T [BBT] which has huge commercial exposure."

Adami told viewers that commercial-lighting fixture makers such as Philips Electronics(PHG) and Acuity Brands(AYI) might have more room on the downside.

Adami told viewers that commercial-lighting fixture makers such as Philips Electronics(PHG) and Acuity Brands(AYI) might have more room on the downside.

Najarian mentioned that traders bought lots of January $23 puts on the iShares Dow Jones US Real Estate ETF(IYR). He says "the bottom has yet to be found."