Are we on the verge of another global financial meltdown? Matt McCall weighs in

Fears that we are headed toward another global financial meltdown intensified yesterday as the market tumbled following a pessimistic economic assessment from the Federal Reserve.

The sharp losses put the Dow on track for its worst weekly performance since September 2008, and forecasters polled by the Wall Street Journal this month gave the U.S. a one-in-three chance of slipping into recession over the next year.

Today on American Morning, Matt McCall, president of Penn Financial Group, talks to Christine Romans about the state of the financial markets and explains how investors should handle the downturn.