Investors should not be alarmed if the current stock sell-off accelerates even more, Wharton School finance professor Jeremy Siegel said Monday. "I don't think anyone should panic, even if we have another five or 10% [drop]," Siegel told CNBC's " Squawk on the Street ." U.S. equity markets have struggled as investors brace for tighter monetary policy this year from the Federal Reserve. The S & P 500 closed Friday 8% below its intraday record, while the Nasdaq Composite sits 15% lower than its high. The professor has repeatedly warned against rising prices and has criticized the Fed for being slow to tackle inflation, in his opinion. "I just think that we've got to be prepared for a much more aggressive Federal Reserve," Siegel said. Siegel said he will pick up shares when the market goes down roughly 5% to 10% more. "I'm positioned more toward the value stocks, because I think that they're going to resist the rate hikes better than the long duration stocks," Siegel said. A week ago, Siegel called for the Nasdaq to enter a bear market , defined by a decline of 20% or more. However, the professor has a positive outlook on stocks in the longer term. "I'm not bearish about the stock market long term. I still think it's fairly valued," Siegel said.
Scott Mlyn | CNBC
Investors should not be alarmed if the current stock sell-off accelerates even more, Wharton School finance professor Jeremy Siegel said Monday.