Investors hoping for a quiet day in in the market on Thursday after a bruising Wednesday didn't get their wish. A broad-based decline sent the S&P 500 down over 2%, and the index is now off 4.8% over the past five days.
One upside of a stock market drop is that investors can start looking for opportunities to put some cash to work. But how many opportunities have really been created? Director of North American Equity research Dan Rohr argues that the market is just getting closer to fair value and that investors need to still be picky about stock and sector selection. Take technology for example, the sector has been hit hard in recent days, but it looked quite pricey heading into the quarter, and Rohr still thinks sees it as overvalued.
Jeremy Glaser does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.