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Market sell-off a good buying opportunity, strategist Jim Paulsen says

  • There may be a number of concerns for the market, but economic growth is "pretty decent," strategist Jim Paulsen told CNBC.
  • He thinks there will be a better global economy in a few months, which will come after a fear-based sell-off.
  • "On days like today it's better to have your shopping list rather than your sell list," he said.

There are a number of things that could be a cause for concern for the market, but one thing that is not an issue is the "pretty decent" economic growth right now, strategist Jim Paulsen told CNBC on Tuesday.

In fact, he believes things like the drop in bond yields and the low dollar are stimulating an already accelerating economy right now.

He anticipates an even better global economy in a few months.

"It'll come after a bit of a sell-off, a fear-based sell-off and people have to re-establish positions," the chief investment strategist at Leuthold Group said in an interview with "Closing Bell."

"It's a good buying opportunity. It could go on for longer but I think on days like today it's better to have your shopping list rather than your sell list."

U.S. equities closed lower Tuesday, the first trading day of the week, as jittery investors reacted to the latest tensions between North Korea and the West.

The Dow Jones industrial average fell about 235 points, its biggest one-day drop since Aug. 17.

Paulsen said he would specifically look at areas like industrials, materials and energy stocks, as well as financials. He also likes overseas markets more than the U.S.

— CNBC's Fred Imbert contributed to this report.

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