Stocks Are in First Leg of a Pronounced Sell-Off, Cantor's Cecchini Says

The transcript discusses the current market sell-off, with the NASDAQ down 4% and the S&P down 3.5%. It explores whether this is a time to invest or hold back. The speaker suggests a tactical approach, noting the potential for a market bounce at 3200. Despite no earnings growth in 2019 and high market multiples, the speaker remains cautious. The outlook for small caps is similar, with negative earnings growth last year. The speaker anticipates a more pronounced sell-off but acknowledges potential market fluctuations.

What factors should be considered when deciding to invest in a market that is experiencing a sell-off?

What does the speaker suggest about the potential for a market bounce at 3200?

How did the earnings growth in 2019 impact market expectations?

What is the significance of the statement regarding elevated multiples after the sell-off?

What does the speaker mean by 'plenty of ups and downs' in the context of market movements?