The rough month for stocks—being capped Friday by another sharp decline on Wall Street—is raising concerns about whether the recent selloff is the start of the long-feared correction and whether 2014 is doomed because of the often-accurate January barometer.
Two leading market-watchers told CNBC that the recent downturn won't turn into a true correction, but another analyst predicted a steeper 15 percent decline.
On the optimistic side, JPMorgan chief U.S. equity strategist Tom Lee said in a "Squawk Box" interview that he didn't think a 10 percent correction was likely. "The reason I think we're not going to go down as much as 10 is the high yield market is behaving. And high yield market has led equities."
