U.S. stocks dropped Wednesday, continuing a rough start to the year for investors. "Fast Money" traders picked through the battered markets for names that could have potential ahead.
The S&P 500 slid 2.5 percent Wednesday and has lost 7.5 percent of its value this year. But opportunities still exist amid the weakness, traders said.
Investors may want to avoid U.S. multinational companies that have significant exposure to a stronger dollar, contended trader Dan Nathan. Instead, he looked to the Utilities Select Sector SPDR Fund, which he has previously described as a defensive play with the benefit of a dividend yield.