The last correction in the S&P 500 was almost four years ago. If you’re worried the markets are due for a pullback, you need to have a plan, said David Lebovitz, global markets strategist at J.P. Morgan Funds. ‘International diversification is particularly important,’ Lebovitz said. ‘When we look at the European economy, they’re a few years behind the U.S., so I think there’s more room for them to grow.’ One of the reasons U.S. markets have gone so long without a correction stems from unprecedented intervention through the Federal Reserve via quantitative easing and low interest rates. As the Fed begins to exit the U.S. economy, central bankers in Europe are ratcheting up their influence on the eurozone economy. The ECB just launched a $1.2 trillion stimulus in March, in order to lift growth. Lebovitz said one of the most attractive spaces in European equities are financials. TheStreet’s Scott Gamm spoke with Lebovitz in New York.
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