After another battering for U.S. stocks Friday, investors need to change their expectations for the rest of the year, one technician said.
"I think we've already hit our top on the year. I think it's just going to get ugly," said Dan Fitzpatrick, president and technical analyst at Stock Market Mentor, in a CNBC "Power Lunch" interview.
The Dow Jones industrial average plunged 530 points, ending its worst week since September 2011. Both the Dow and Nasdaq closed in correction territory, or more than 10 percent lower than their all-time intraday highs this year.
As negative sentiment shook the major averages, experts offered their take on how to handle stocks, bonds and gold moving forward.