Stocks regained footing this week after a massive global sell-off had investors hitting the panic button. But amid all the negativity, one economist says all Wall Street needs to do is "take a deep breath and relax."
On CNBC's "Futures Now," Bank of America Merrill Lynch's Ethan Harris said that rather than fret over uncertainty in China, investors should look at the market for what it really is: overdone.
"I think that the market is overwhelmed with too many blindside hits," Harris said Tuesday. "You had geopolitical concerns around the Middle East and North Korea, you had weakness in the equity market and currency market in China, you had a little bit of soft data, and if you put it all together it was just a little bit too much for the equity market."