‘Yes, this is going to be a recession.’

Indicating the “depth of subprime losses and housing woes,” the “Dow Jones industrial average lost more than 300 points” today, “bringing its decline to 15 percent since its peak in October.” “Basically every day now, you have more and more investors leaning toward the camp that yes, this is going to be a recession, and it could be a severe one,” said David Kovacs, a quantitative investment strategist at Turner Investment Partners in Pennsylvania.