Stocks sank Wednesday in the worst start to the fourth quarter for the three major indexes in three years. While buyers appeared to be staying away, two market pros told CNBC the pullback has created opportunities.
"Selectivity is extremely important in the equity markets now. Paying attention to valuations is extremely important now," Dave Donabedian, chief investment officer of Atlantic Trust, said in an interview with "Power Lunch."
Jim McCaughan, CEO of Principal Global Investors, agreed.
"The U.S. has got the most secure growth story in the world. So, within the U.S. market, buy on setbacks, focus on domestic earnings," McCaughan told "Street Signs."