The 2018 market rally finally came to a pause on Wednesday.
The S&P 500 fell 0.1 percent to record its first decline of the year. The STOXX Europe 600 fell 0.4 percent and the Nikkei 225 fell 0.2 percent.
David Donabedian, chief investment officer of CIBC Atlantic Trust Private Wealth Management, said that a “backup in bond yields is impacting sentiment a bit” after a report said that China is considering halting or cutting its purchases of US government bonds.
However, Donbedian remained confident that “the bull market will be sustained in 2018”.
Mike Bell, global market strategist at JP Morgan Asset Management, said that now is not the time to "de-risk" portfolios, according to a CNBC report.
“Despite the strong rally, valuations have not changed much since the start of 2017 in Europe, U.K. and Japan, as earnings have grown strongly,” said Bell.
Mark Haefele, global chief information officer at UBS, also said in a note on Wednesday that “it still makes sense to be invested in equities”.
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