Over 1,000 Stocks On The NYSE Just Hit 52-Week Lows

Market sentiment has officially turned negative. The MSCI All-Country World Index is now down over 20 percent year-over-year, classifying it as a bear market, CNBC reports.

The broader U.S. indices are also performing poorly, down an average of near 3 percent on Wednesday. All three are now down close to 10 percent year-to-date.

Stocks Hitting 52-Week Lows

Many stocks are hitting 52-week lows, including the following names:

Alcoa Inc AA

Ambarella Inc AMBA

Bank of America Corp BAC

Bed Bath & Beyond Inc. BBBY

ConocoPhillips COP

Caterpillar CAT

Dunkin Brands Group Inc DNKN

3D Systems Corporation DDD

1-800-Flowers.Com Inc FLWS

DaVita HealthCare Partners Inc DVA

Garmin Ltd. GRMN

Groupon Inc GRPN

Jazz Pharmaceutical JAZZ

J C Penney Company Inc JCP

Mobileye NV MBLY

Oracle Corporation ORCL

Transocean Ltd RIG

TASER International, Inc. TASR

Bank Of America Making Waves

On Tuesday, Bank of America analyst Adam Parker said his team's "best guess" is that the U.S. markets are pricing a 50 percent chance of a recession this year.

As ValueWalk writes, the bank's team said the fall of the USD-Saudi Riyal peg could be the "number one black swan event" in 2016. " In short, low oil makes this possible, as "the FX reserve drain on Saudi could accelerate to $18bn per month if Brent crude oil prices average $30/bbl, sharply reducing the Kingdom’s ability to retain its currency peg.”

JJ Kinahan And Craig Laffman Talking About Market Volatility After Close

TDAmeritrade strategists JJ Kinahan and Craig Laffman will be talking about the market volatility this Wednesday at 4:15pm ET.