Stocks are tumbling on Wednesday, with the Dow and S&P 500 down 10 percent since the beginning of the year. The Nasdaq is off more than 12 percent.
Despite the sell-off, Jack Ablin, chief investment officer at BMO Private Bank, tells CNBC's "Power Lunch" he's not worried. Ablin sees another 8-10 percent correction and a better entry point for investors.
He also expects a pick-up in discretionary spending when confidence improves. "Investor bullishness is at its lowest level since the 'flash crash,' Ablin said.
Consumer discretionary is down 3 percent on a down day for the market.