Fundstrat's Tom Lee says stocks are in a 'dangerous' spot but long-term investors should sit tight

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As major stock indexes fell again on Monday, Fundstrat's Tom Lee said the market was in a "dangerous" situation but he still expected the market to erase most of its recent losses by the end of the year.

Lee has been one of the more bullish Wall Street strategists during the coronavirus crisis and called for a market turnaround in March. CNBC's Scott Wapner said after the interview on "Halftime Report" on Monday that Lee seemed more "sanguine" than in previous appearances.