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Market volatility? Get used to it, says strategist
U.S. markets are in for more rocky roads, Bank of America Merrill Lynch strategist Savita Subramanian said Friday as stocks plunged. But she's optimistic in the long run.
"We've had volatility all year and I think we're going to have it for the rest of the year," she said in an interview on CNBC's " Squawk on the Street ."
However, Subramanian said the market will be in a better place by December and she's expecting the S&P 500 (INDEX: .SPX) to reach 2,200 by year's end. "On a daily basis, I think we need to get used to a little bit of volatility," she said.
U.S. stocks were trading down sharply on Friday afternoon on concerns coming out of Greece and China as well as weaker-than-expected economic data.
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"I think the lack of progress that has been made on Greece is being reflected particularly in European bond yields," JPMorgan (NYSE: JPM) global markets strategist David Lebovitz said on the show. "So I think it's Europe and Greece which is driving the bus right now."
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