The market is undergoing a classic growth scare and people are worried about forward economic expansion, Morgan Stanley's chief U.S. equity strategist said Wednesday.
"I think it's an opportunity," Adam Parker said in an interview with CNBC's "Closing Bell." "I actually think the economy is fine here in the U.S."
Despite being bullish on the economy, Morgan Stanley recently downgraded the tech sector from "market weight" to "underweight." The firm cut its exposure to Apple in half.