Wall Street's worries over a massive stock sell-off is no reason for CFOs to panic, says a chief economist

(Credit: Getty Images)

Good morning. The stock market meltdown on Monday was triggered by fears of a weakening economy, but a recession isn't imminent, according to an expert.

The latest market carnage began on Monday morning when Japan’s Nikkei 225 index suffered its worst day since 1987. By market close, the Dow dropped over 1,000 points following a 611-point loss on Friday. Meanwhile, the S&P 500 fell over 3.2%, and Nasdaq futures slid about 3.4%.