×

Power Play: Opportunities in Europe and Japan

Euro Yen banknotes
Tomohiro Ohsumi | Bloomberg | Getty Images

Stocks are sliding on Tuesday, with the Dow down 200-points at the lows of the session. Two market strategists tell CNBC's "Power Lunch" the worst may not be over and better opportunities are overseas.

Bill Stone, chief investment strategist at PNC Asset Management, likes Japanese equities. "You'll need to have an iron clad stomach, but it looks like there is value there," Stone said.

Read MoreJim Paulsen: Stocks may hit new highs on global growth pop

Mark Luschini, chief investment strategist at Janney Montgomery Scott, is looking across the pond. "Europe's economy is growing nicely and valuations are still cheap when compared to the United States," Luschini said.

In order for U.S. stocks to move higher, Luschini believes we have to see better earnings. Stone thinks we are in for a pause the U.S. following the huge rally since February 11.

The Nikkei and the pan-European STOXX 600 closed lower on Tuesday.