Richard Drew | AP7:28 am: Gundlach says it's 'ludicrous' to think US won't enter a recessionwill enter a recession this year. The "Bond King" said that last week his odds stood at 80%, but that as the coronavirus outbreak continues to halt travel and shutter businesses worldwide, he now places the odds at 90%. Still, Gundlach added that he was incrementally less negative on the market's outlook given the magnitude of the federal government's response.
"We all know that the stock market is down a lot. We know the junk bond market's down a lot. ... Will the market snap back? Of course it will." —, reaching their so-called limit down level, indicating declines of about 5% for the major averages. Dow Jones Industrial Average futures were down 821 points, indicating a loss of 1,031 points at the open. S&P 500 and Nasdaq 100 futures were also at their downside limit.
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