Dow plunges over 1000 points, but don't get 'crazy': experts

Selloffs on China and Japan's financial markets sent US stock futures reeling Monday morning, with the Dow opening down more than 1,000 points. But according to at least one analyst, this stock market swoon already may be nearing its end. 

While many investors continue to fret over the latest round of selling in the global equity markets, David Katz, Matrix Asset Advisors' chief investment officer, has one message.

"We would not get too crazy about this selloff," Katz said Monday in a CNBC "Squawk Box" interview. "We actually think we're closer to being done with this selloff than the start. If you look at last year, there were five selloffs [and] the market regained its highs after about 30 days from its selloff."

Katz made his remarks after China's Shanghai composite plunged more than 8 percent while Japan's Nikkei 225 fell over 4 percent. European equities were also led lower by the selloff in Asia, as the pan-European STOXX 600 index dropped about 3 percent.

U.S. futures were also sharply lower, with Dow Jones industrial average futures trading down more than 450 points.

"Problems always seem a lot worse when they're happening," Katz added. "If you look back at last September-October, you had Ebola, which was a real concern. You had the Chinese markets slowing down [and] there was a significant fear we were going back into a slowdown. It didn't pan out that way."

Tom Lee, founder of Fundstrat Global Advisors and a longtime U.S. bull, said that the only way this bull market would end is with a global recession.

"I think the odds of that are low," Lee said in another interview. "I know people are worried about China, the real theses, in our view, is that growth orientation is shifting back to the U.S. being a driver for global growth and that's what the markets are finding equilibrium for." 

Nevertheless, the recent move in the global financial markets has also triggered an unusual move in the currency space, said Boris Schlossberg, currency analyst at BK Asset Management.

"The big question that I'm getting right now is how come the euro's going up?" Schlossberg said. "It used to be, when the equity market would go up, the euro would go up and the dollar would come down. ... Now, the equity market is selling off and the euro is going up."

"It's an 'Alice in Wonderland' world that we live in right now," he said, adding that investors are shifting to the common currency because of the high amount of liquidity it currently has.