Sorry for being blunt, but the number of people appearing on CNBC saying "we MAY" be going into recession* are just morons. There's no doubt about it.
Until these people panic and realize how economically serious this is, there will still be sellers on any further down drafts in the markets as they realize they're wrong or their clients force selling anyway.
*Technically, recessions require a sustained fall in economic activity. But this is a distinction without a purpose at this point.