That sinking feeling: Kirby Daley, strategist at the Newedge Group, says the U.S. is indeed in recession -- and the market is heading downward.
He tells CNBC that he expects a 15 percent to 20 percent drop in the Dow -- in the near future.
More Gloom & Doom:
- CNBC Video: Recession Has Just Begun
Stocks in Monday's news:
- Ford Motor