Jennet Chin

The Shanghai Composite continues to fall, dropping 2 percent on Thursday, and is now down about 20 percent over the past two months. But Richard Madigan, chief investment officer at J.P. Morgan Private Bank, who has more than a trillion dollars in assets under management, tells CNBC's "Power Lunch" do not panic.

High valuations is a concern for Morganlander. "Today's lofty expectations, evident in elevated market multiples and low volatility, make the risk-reward tradeoff less appealing from our vantage point." Morganlander is sticking with steadily rising dividend stocks such as Amgen, Nike and Union Pacific. All are higher during trading, except for Nike. Disclaimer

Stocks are modestly lower, with the Dow bouncing off a triple-digit loss earlier in the session. Atlantic Trust CIO Dave Donabedian tells CNBC's "Power Lunch" on Tuesday he doesn't see big returns in equities right now. "The ebullient 'Trump rally' that commenced with the election, is over. We anticipate a lower return profile for stocks in the months ahead (single-digit annualized returns). We are late in the cycle, and absolute valuations are full," Donabedian said.