Market strategists squared off on "Power Lunch" about whether today's meltdown should keep investors awake tonight.
On the skeptical side is Jack Ablin, chief investment officer at Harris Private Bank. He thinks "huge inflows of liquidity" will keep stocks afloat.
"The Shanghai market is an isolated market," he said. "Bottom line ... China is a tempest in a teapot."
Still, Ablin said investors should curtail putting funds in emerging markets and stay "somewhat defensive" in U.S. stocks, recommending shares of large cap, high-quality companies.