Jeffrey Gundlach Says Stocks Have Further To Fall

U.S. stocks are likely to see another wave of heavy selling pressure before the market correction runs its course, DoubleLine Capital co-founder Jeffrey Gundlach said Monday, according to Reuters. The widely followed investment manager said U.S. equities are in a "mode of uncertainty, at best," and that markets "don't correct all of this in three days," according to the report. U.S. stocks are sharply lower in volatile trade, with the S&P 500 down 3.8% at 1,896.70 and the Dow Jones Industrial Average down 610 points, or 3.7%, at 15,850.