New Delhi, Feb. 18 -- Sensex at 100,000? Five months ago, it was the talk of the town. Now? Everyone is fearful. A cocktail of global worries, including foreign investors fleeing, US yields soaring, a stronger dollar, and dismal corporate earnings have spooked markets.

The frontline index is down almost 12% from its 52-week high in September while the mid- and small-cap indices are teetering on the edge of a bear market-down nearly 20% from their most recent highs.

Now, 78% of market experts polled by Mint have said they don't expect the Sensex to hit 100,000 points this year. The question is whether the decline will end up being just a painful correction or a full-blown bear hug.

While the markets peaked last September amid global unc...