As fear rises on Wall Street, strategists warn the worst is yet to come

Stocks plunged on fears of a recession, and the Nasdaq was temporarily in bear market territory, a 20 percent decline from its recent highs. The Cboe Volatility Index temporarily jumped above 30, its highest since the major market sell-off in February of this year. Strategists blame recession worries brought on by a tone-deaf Fed and continuing fears that trade wars and slowing global growth could sink the U.S. economy and chisel away at corporate profits.