Veteran strategist Jim Paulsen stated Wednesday that the inventory market has proven indicators of panic and that traders ought to take into account shopping for shares on down days. 

"I do not know the place the underside is right here. I feel we're near it, although, I actually do. This factor simply oozes panic to me," Paulsen, chief funding strategist at Leuthold Group, stated on "Squawk Field."

U.S. markets opened sharply decrease Wednesday, persevering with a risky interval of buying and selling. The Dow Jones Industrial Common has seen 5 every day swings of greater than 1,000 factors during the last two weeks, together with a drop of greater than 2,000 factors, or 7.8%, on Monday. 

"The motion the ferociousness and pace by which shares have fallen and now bond yields seems to be extra like the top of a colossal panic ... I might begin to nip away at it on these form of down days that we've," Paulsen stated.

The Dow, S&P 500 and Nasdaq are all buying and selling in correction territory, greater than 10% beneath final month's all-time highs. The wild strikes have come...