Doll: Any market correction should be shallow

BlackRock's Bob Doll has warned equities look due a correction in the near term, but said any sell-off would likely be short-lived, with the global outlook little changed by recent events.

The chief equity strategist for fundamental equities at BlackRock said although there are a number of issues facing markets - including the ongoing sovereign debt crisis and lower than expected growth in China - a sustained sell-off was unlikely. "The current pullback has, so far, been blamed on a combination of rising concern over the European debt crisis, fears over a hard landing in China, and the likely absence of additional stimulus coming from the Fed," said Doll. "None of these developments, however, represent any sort of significant change in economic or market fundamentals an...