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Traders work on the floor of the New York Stock Exchange att the end of the trading day on February 3, 2014 in New York City. - 

After dropping two and a quarter percent yesterday, the S&P 500 will start the day down nearly six percent for the year so far. The Dow is down 7 percent since New Year's eve. We talked to Sam Stovall, Chief Equity Strategist at S&P Capital IQ for a consultation.

Click play on the audio player above to hear the interview.

Follow David Brancaccio at @DavidBrancaccio