Chance to buy on the dip -portfolio manager

"If you have conviction and and some of the stocks that have looked a little expensive up until now, perhaps it is an opportunity to to buy on the dip," said Grant.

Wall Street's main indexes tumbled on Monday with Nasdaq leading the declines as technology stocks dropped on expectations of a sooner-than-expected rate hike that pushed U.S. Treasury yields to fresh two-year highs.

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