It wasn't that long ago that the prediction of a lasting "synchronized global growth" was made.
The ongoing widespread sell-off in global markets may lead some to question that narrative, but it's a story that still rings true underneath the sea of red, analysts and investors said.
The weakness in stocks over the last few days was triggered by fears that interest rates could climb faster than expected. Key U.S. indexes — the Dow Jones Industrial Average and the S&P 500 — erased their gains for the year, leading slumps in Europe and Asia.
Major money managers, however, sought to calm investors because fundamentals underpinning strong global growth persist. Given that markets have rallied for most of last year, the current slide in share prices is merely a much-awaited dip in a long-running climb, they added.
"Nothing has changed fundamentally," Suresh Tantia, investment strategist at Credit Suisse, told CNBC on Tuesday. "If you look at economic data coming out of U.S. or Europe or Asian markets, it's very strong. The earnings season in U.S. has also been very strong."