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Power Play: Global leaders in 2016

A worker polishes steel coils at a factory of Dongbei Special Steel Group in Dalian, China.
China Daily | Reuters
A worker polishes steel coils at a factory of Dongbei Special Steel Group in Dalian, China.

While stocks are lower so far this week, it's not the time to panic.

Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, tells CNBC's "Power Lunch" on Wednesday market volatility is a buying opportunity.

"Do not fear volatility (I know, easier said than done for retail investors). We are encouraging our clients to take advantage of pullbacks and add to cyclical sector equity exposure," Wren said.

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He also believes growth concerns in China appear overdone.

"China's currency devaluation, the fall in oil prices and a mid-year soft spot in global manufacturing activity have created bearish sentiment around the potential for an economic slowdown and the threat of global deflation. Our 2016 GDP estimate is 6.2 percent....the 'controlled slowdown' remains intact," Wren said.

Burt White, chief investment officer at LPL Financial, likes the outlook for global stocks next year.

"Valuations among emerging market equities remain particularly attractive and potential earnings acceleration in Europe and Japan boost the allure of international stocks," White said.

The pan-European STOXX 600 and the Nikkei closed lower, while the Dow, S&P 500 and Nasdaq turned lower during trading. The Shanghai Composite ended higher for day.