English banking giant Standard Chartered's chairman suggests that investors should "de-dramatize" the recent market sell-off.
"We should not overreact to market movements even if those market movements are sizable," José Viñals told CNBC's Geoff Cuttmore on Thursday morning.
Viñals comments came amid a stock market rout in Asia following a major Wednesday sell-off on Wall Street.
Commenting on the recent market rout, Viñals said he "would de-dramatize the situation," urging investors to "remember what we have."
"One needs to start from realizing that some valuations were stretched to begin with," he said
"In a context where interest rates are going up and where growth prospects are significantly revised downwards," he added, "this is something that is going to take some steam off equity markets."
Nevertheless, Viñals said, the global and U.S. economies were "still growing strongly," along with expectations and forecasts that they were going to "keep at good rates" for this year and the next.