China's plunging currency worries investors because many consider the Chinese data unreliable, not to mention the huge stockpile of reserves, said Elsa Lignos, an RBC currency strategist, in a Thursday interview with CNBC's "Closing Bell."
"We had data overnight showing they used up over $100 billion in December alone," she said. "That has implications for other asset classes; the heavily invested in U.S. Treasuries" and currencies.
Amid these fears, market watchers are looking to invest in companies that will have fewer repercussions in the wake of China's volatile market.
On the exposure side, you have a lot of tech, industrial, material and the energy companies, said Paul Hickey, co-founder of Bespoke Investment Group.