Too early to call a market bottom as more pain due for regional banks

It's too soon to call a bottom in the stock market as the chaos in the global banking sector continues to unfold, according to Gargi Chaudhuri, BlackRock's head of iShares investment strategy Americas.

"I think this is just the beginning in terms of us beginning to figure out the broader ramifications of everything that we've learned over the last 10 days," Chaudhuri toldThere's also"more pain to be felt" for smaller banks, the strategists said, adding that this will lead to lower credit growth — and slower economic growth as well.

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