The "Halftime Report" traders tackled the markets as stocks sank back into correction mode during Tuesday's trading.
Joe Terranova said there likely won't be a significant snap back in stocks anytime soon.
Stephanie Link advised investors to focus on pockets of strength, particularly the groups down the least.
Trader disclosure: On September 1, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the "Halftime Report" traders: Pete Najarian is long AMAT, AAPL, BAC, BMY, BP, CSX, DISCA, DKS, FOXA, GE, KKR, KO, LLY, MRK, PEP, PFE, he is long calls AAL, ABX, ALK, BBY, BEE, BHP, CRM, CSX, CVC, DAL, ETFC, HIG, HIMX, LM, MRO, SLB, VLO, VZ, WLL, XLF, ZIOP, he is long puts AUY, FCX. Today he bought CVC calls. Stephanie Link is long AAPL, BAC, BRCM, CHKP, CRM, DAL, DLPH, EL, ESRX, EXP, GILD, GOOG, GOOGL, HIG, HPQ, INTC, JPM, LLY, LOW, LPX, LULU, MAT, MCD, MS, PRU, RHT, SBUX, SLB, SWK, TIF, UNH, V, VFC, WFC. Today she bought GOOG/GOOGL. Josh Brown is long AAPL, BABA, DE, DNKN, EBAY, FB, FSLR, JMBA, NFLX, PYPL, SAM, SHAK, SPWR, TWTR, XLE, XON. Joe Terranova is long VRTS.