Stick With Stocks as Long as Fed Stays Dovish, Says HSBC's Rasco

Investors should not do anything too hasty with their portfolios due to the current market swoon. There is still upside for stocks because the Federal Reserve remains accommodative, said Jose Rasco, chief investment strategist for HSBC Private Bank -- Americas. "I think investors should be mindful of the volatility, but keep their eyes on the long term," said Rasco. "Most central banks are still accommodative and even when the Fed raises rates, they are not normalizing interest rates yet, they are still being accommodative. So that’s positive for markets."