BlackRock's Doll says US stocks' corrective phase 'not over'

NEW YORK, Feb 4 (Reuters) - The selling pressure in U.S. stocks won't be over any time soon, owing to ongoing worries about the U.S. and European economies, Bob Doll, global chief investment officer for equities at BlackRock .BLK, said on Thursday.

"We got spoiled last year with the market going up almost non-stop last year after the March low," Doll told Reuters. "The consolidation or corrective phase is probably not over."

The Dow Jones industrial average .DJI, down more than 2 percent, moved within reach of the key 10,000 level on Thursday.

Sovereign credit risk has come under increasing focus as concerns grow over high debt levels, rising government fiscal deficits and, for some nations, increased funding risks.

Concerns over fiscal problems in Greece and Portugal pushed their debt protection costs to new highs on Thursday at 406 basis points and 223 basis points, respectively, according to Markit Intraday. (Editing by Dan Grebler)