china talks, with richard mcgregor. we will discuss the market action with wells fargo investment institute tracy -- tracie mcmillion. this is bloomberg. ♪ shery:shery: u.s. futures getting ground after the biggest reversal since worry, after a loss of more than 1%. our next guest says she is taking advance of market weakness. let's bring in the head of allocation strategy at wells fargo investment institute. great seeing you. this chart is showing the volatility we have seen on the s&p 500 recently. if you are buying the dip, why? tracie: what we have been telling investors over the last few days is that this type of volatility is expected. we have several things we are watching, the debt ceiling is one of them and that has been contributing to the recent volatility. but we look for these 5% corrections. it's usually 10%, now 5%, adding money to the equity market. shery: more voices telling us to liquidate because this is a good time. you have downgraded the emerging markets. why? tracie: we downgraded to a neutral way