U.S. stock markets entered recovery mode Monday afternoon after a steep morning sell-off both at home and in the Asian trading session.
Major indexes closed down more than 1.5 percent, but briefly traded about 3 percent lower after the Shanghai composite saw a 7 percent plunge Monday. Part of the dip occurred as a key economic indicator, Caixin manufacturing PMI, reported soft results.
But experts told CNBC's "Power Lunch" that there's more to Monday trading session than just the Chinese manufacturing sector.
"The main point I want to make today is that the sharp fall in the Shanghai composite index really doesn't reflect a sharp change in the Chinese economy," said Andy Rothman, China investment strategist at Matthews Asia.
Rothman and other pros listed factors affecting stocks that have little to do with Monday's PMI reading, including Chinese consumers, U.S. manufacturing data and earnings growth.