Some optimistic commentary just in from Bob Doll, vice chairman and global CIO of equities for BlackRock:
"We believe that equity markets are currently in the midst of a bottoming process. As we indicated earlier, the current process appears to have begun on October 10. Stocks sank below their October 10 lows in late November, but importantly, volatility measures were lower then, which adds support to our view that prices are finding a floor. Based on patterns observed during past recessions, such processes typically last several months. We are now two months into this process, and believe we have between two and four months to go, meaning we should expect high levels of volatility to continue, but that the longer-term outlook is brighter."