Yahoo Finance

Put your 'shopping list together' to buy the dip: Strategist

US stocks continue to be under pressure after all three major indexes (^DJI, ^GSPC, ^IXIC) closed Monday's session down more than 2%. Ameriprise Financial chief markets strategist Anthony Saglimbene joins Morning Brief with Madison Mills and Brad Smith to discuss how to navigate the sell-off and "the question everybody is asking": When is it time to buy the dip? Saglimbene says in the longer term, broad market sell-offs "are typically good buying opportunities." He adds, "If the US economy doesn't move into a recession and corporate profitability remains on track, a lot of questions about how tariffs are going to interact and interplay with those dynamics, but generally from a longer-term perspective, investors probably want to be putting their shopping list together." "One of the things that we've been telling our clients and advisors is to have a plan for addressing the volatility," he says, explaining that a diversified portfolio can help combat market volatility. The strategist highlights that investors' strategy for the market sell-off depends on their time horizon. "The investing environment is going to be difficult and so having appropriate levels of cash and fixed income and alternatives can help blunt the volatility in a portfolio." Saglimbene tells Yahoo Finance that if US President Donald Trump were to back off tariffs, that would be a catalyst for the market to reverse directions. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Naomi Buchanan.