With stocks now worth less than 55% of their peak in October 2007—a decline of $11.1 trillion in market wealth—investor sentiment has been shattered and some market experts believe the process of finding the market bottom must begin all over again.

That’s a far cry from the outlook that BlackRock Chief Investment Officer Bob Doll had at the end of last year, when he and many other market experts were saying that the market had seen the worst. “We have broken down and, therefore, the repair process to create a bottom and to create a foundation has to start over again,” Doll told Reuters.

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