The S&P 500 Could Face Double Digit Corrections

CFRA's Sam Stovall said that the recent S&P 500 pullback may be converted into a "low-level, double-digital correction." According to Business Insider, Stovall said that this will be an opportunity for investors to buy, not "bail." He feels the Fed is likely to keep interest rates low for the next few years.

Stovall added that recent S&P 500 sell-off was not surprising.

For Stovall, the "extreme" difference between price returns for growth stocks versus value stocks made the market vulnerable.