Tim Harrison, Head of Wealth Management at Linear Investment, says a sell-off like this is not unwarranted while talking about the stock market drop, and buyers could come in at the right levels on the back of bullish comments from companies like Associated British Foods PLC (LON:ABF).
Hence, Harrison says it is worth waiting on the sidelines waiting for right opportunity rather than jump onto any conclusion – extended sell-off or bear trap. Harrison also details the fundamental outlook on AB foods and other UK retail stocks like Asos (LON:ASOS) and Morrison Supermarkets (LON:MRW).