TURLOCK, Calif. — It's been one day since Wall Street's worst day of 2019. The Dow dropped 800 points and recession concerns started to grow.

Although the market showed a slight recovery on Thursday, people are still worried about the possibility of a downturn. 

So ABC10's Lena Howland sat down with the Dean of the College of Business Administration at Stanislaus State in Turlock for answers.

Q: Are we headed toward a recession?

"I don't think we are headed into a deep recession right away. It's normal for economies to slow down, and after 10 years of growth, it is normal for an economy to slow down," Thomas Gomez-Arias, Dean of the College of Business Administration at Stanislaus State said. "There is a slowdown in economic growth in the U.S., that's very real. Does it imply an immediate recession? It doesn't look like it."

Q: How does Wednesday's 3-percent drop in the market impact me?

"When you look at it from the individual's perspective, someone that has stashed away $100,000 for retirement or to buy a home, a 3-percent drop is $3000," Gomez-Arias said. "For some people that might be a lot and for other people, it may not be that meaningful, especially considering that there has been big gains."

Q: Could we see another repeat of 2008?

"The 2008 recession was a one in 100 years kind of recession and it is unlikely that we will have another one as deep and as prolonged for some time," Gomez-Arias said.

Q: Is another recession possible?

"I can tell you there's going to be a recession. I cannot tell you when. That's something true in economics, you can tell what is going to happen, just you cannot tell when," he said.

Continue the conversation with Lena on Facebook.

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