Markets tend to go too far in both directions, he said, adding the U.S. economic fundamentals remain strong.
Global finance leaders are trying to make sense of the U.S. stock market rout that took the Dow Jones Industrial Average down another 545 points on Thursday for a two-day plunge of nearly 1,400 points or more than 5.2 percent. The S&P 500 and Nasdaq suffered similar percentage declines.
In premarket trading on Friday, Dow futures were indicting gain of more than 300 points at the open. Strong advances were also being seen in S&P and Nasdaq futures.
This week's decline in stocks, the worst since late March, was fueled by concern the Federal Reserve might raise interest rates more than forecast.
After their September meeting, central bankers were projected on a path to raise rates to 3.4 percent, before pausing.
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