'US equity markets face another major leg down'

DoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned on Monday that the US equity markets face another round of selling pressure. "The US stock market is in a mode of uncertainty, at best," Gundlach said in a telephone interview with Reuters. "You don't correct all of this in three days. The market is wounded and it takes time for people to get around to feeling good again."
US stocks slumped on Monday, with all three major indexes down more than 3 percent in late trading, with volatility the theme of the day.