Monday, March 20, 2023
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Market strategists: Don’t overreact here

U.S. stocks moved modestly higher in early Tuesday trading, but the opening on Wall Street was nowhere near enough to recover from the 326-point drop in the Dow Jones Industrial Average. After a terrible January, Monday was the worst February start since 1982 for the Dow and since 1933 for the S&P 500.

Weakness on Wall Street Monday sparked a rout in Asia overnight with Japan's Nikkei average falling 4 percent further into a correction, while Hong Kong's Hang Seng index dropped nearly 3 percent, entering correction territory. Stocks in Europe were also mostly lower.

In the face of this recent global selloff, many of the market strategists who appeared on CNBC's "Squawk Box" on Tuesday were hoping that the recent decline will be just a blip on the road to higher stocks.


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