Lee, though, does not believe we are in a similar position this time around as the economy remains relatively strong and market valuations are still arguably reasonable.
Consequently, for those with cash on hand and if the U.S. doesn’t fall into a recession, this may be a good time to dip back in to equities and capitalize on a buying opportunity over the short-term.
The “speed of recovery” is “proportional to [the]decline,” Lee said.
SPDR S&P 500 ETF
For more information on the stock markets, visit our S&P 500 category.
Max Chen contributed to this article.