Tom Lee: This Dip Is an Overreaction

Tom Lee said the current market dip is an overreaction, arguing falling inflation could quickly turn today's selloff into a major rally.
He said the economy remains strong enough for earnings revisions to keep moving higher, and expects core PCE at 3.3% to fall back into the 2% range, which could trigger a positive market reaction. Lee added that cyclicals, tech, consumer discretionary, and financials could all rebound sharply if inflation fears prove wrong.