Fidelity's Rossi: Market sell-off just a 'mid-cycle' correction

The broad sell-off across equity markets this week is just a mid-cycle correction and will only make the equity rally last longer, Fidelity's Dominic Rossi has said.

Markets across the globe have seen a violent sell-off this week, with the FTSE 100 dropping into correction territory and Wall Street sliding as global growth concerns continue to mount. But Fidelity Worldwide Investments' global CIO for equities (pictured) is unperturbed by this correction, which he attributes to the strength of the US dollar, and plans to stock up on US equities as valuations become more attractive. Rather than the start of a prolonged bear market, he sees the sell-off as a short-term correction which can prolong the bull market. "I think this sell-off in develop...