Video: Warning! Dow Sinking to 10,000

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:

- ImClone

- Humana


- Citigroup

- Ford Motor