EDITOR NOTE:

Six of the biggest Wall Street banks in the country — Morgan Stanley, Bank of America, Deutsche Bank, Citigroup, Credit Suisse, and Goldman Sachs — have issued “red alert” warnings about the U.S. stock market.

Just how bad the market's coming correction will be is up for debate between the financial institution. Citigroup has the dip as a rough but still relatively minor dip of 2.2%. Deutsche Bank straddles the middle, predicting a 6%-10% drop while others, such as Morgan Stanley, reported that a 10%-20% crash is possible in the coming weeks and months.

The biggest bear of the bunch is Bank of America. The Charlotte-based bank is projecting at least a 6% market correction coming soon with an even worse long-term outlook. BoA’s chief equity strategist Savita Subramanian says of the market bubble, “This may not end now. But when it ends, it could end badly."