Stocks were down heavily Thursday, following Wall Street's overnight selloff. The Dow Jones Industrial Average closed at a 5-1/2-year low, below 8,000, as a U.S. bailout of the auto industry appeared unlikely, spurring further economy fears. CNBC's experts believe the blue-chip index will fall a lot further before year end.
Dow Could Hit 6,500
Expect a further 10%-15% drop in the Dow, predicts Ron Ianieri, chief markets strategist at Options University, adding that the index could slide to 6,500.
More Dour Dow Predictions
Stocks May Stay Low For a Long Time
Stocks could stay at low levels for a long time if the recession is a prolonged one, warns Mark Matthews, chief Asia strategist at Merrill Lynch.