Invested in global markets? Here's what you should do amidst the selloff

Additionally, there has been an uptick in the US treasury yields with the 10 years spiking up from 0.93 percent at the start of the year to over 1.5 percent during the last couple of weeks.

According to Viraj Nanda, CEO, Globalise, the rise in treasury yields is leading to the adverse impact being seen in equity markets, especially growth stock which includes technology.

However, he points out that the COVID-19 vaccination programs in the US and Europe are progressing at a good pace and economic recovery is expected to pick up at a faster pace than previously forecast. Commodity price and carbon emission pick up (December 20 global levels were higher than December 19) also point to the economic recovery which is positive for earnings growth.

He, therefore, believes that investors should stay focused on their asset allocation plans and not worry about trying to time the markets.

"Longer-term trends continue to be positive to be overweight on equities vs cash or bonds," Nanda affirms.

Also, Sharma of Fidelity International believes that investors should keep in mind that there is a positive earnings cycle playing out in several sectors. Along with the structural changes across business sectors, this would lead to good stock-picking opportunities.

For international mutual funds investors in India, he says that there could be some turbulence in the near term, including owing to currency moves.

"This will be more the case if they are holding sector funds rather than diversified ones. However, eventually, it will be about earnings where there are due opportunities. As such the premise of relatively uncorrelated returns and the opportunity to invest in global leaders in innovation and business quality keep the case of international investing intact," Sharma explains.

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