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Take advantage of the market volatility: Experts

Investors can use the ongoing market volatility to their advantage, equities trading experts said during a CNBC special report on Tuesday.

Despite international headwinds, U.S. and European strength could provide some equity buying opportunities for discerning investors, according to TIAA-CREF's Stephanie Link.

"I think you do want to take advantage of the volatility, which is going to happen until we hear from companies, which is not going to happen until October," she said. "But we have time until that happens, so in the meantime I think you want to be selective, focus on quality companies, and focus on some certain themes that you believe very strongly in."

Traders work on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters
Traders work on the floor of the New York Stock Exchange.

Jim Lebenthal, CEO and CIO of Lebenthal Asset Management, concurred with Link, saying that investors should "stop worrying about China" and avoid selling at "exactly the wrong time."

"If you've had cash on the sidelines, this is a great time to buy. If you haven't had cash on the sidelines, this is great time to upgrade your portfolio," he recommended. "There are a lot of stocks out there...that have beat their earnings estimates, their earnings are being revised upwards, and they've underperformed the market: Upgrade your stock portfolio."

He suggested investors look at Apple and Boeing as examples of companies that meet all three of those criteria.

U.S. index futures traded Tuesday evening to the negative, but implied a slightly positive Wednesday open based on fair value.

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Tuesday's regular trading hours saw U.S. stocks fall sharply on continued signs of weakness in China and concerns about the Federal Reserve.

The major averages ended the day down nearly 3 percent, falling into correction territory. The Dow Jones industrial average closed about 470 points lower, off session after falling as much as 548 points. The Nasdaq composite wiped out gains for 2015, joining the other averages in the red for the year so far.

Crude oil settled down 7.7 percent, down $3.79 percent, at $45.41 a barrel, giving back much of Monday's 8.8 percent surge.

—CNBC's Evelyn Cheng contributed.