Cantor Fitzgerald CEO's advice for investors: Stay the course, keep in equities

Howard Lutnick

The U.S. stock market's reaction to the Brexit vote makes no sense, Howard Lutnick says. Here's why he thinks it's the place to be.

Cantor Fitzgerald CEO Howard Lutnick has some advice for investors rattled by the U.K.'s vote to leave the European Union.

"Stay the course. Keep in equities," he said in an interview with CNBC's " Power Lunch ."

"Dead low interest rates are great for stocks. They don't run up, they creep up."

Britons voted Thursday to exit the EU, with the leave camp garnering 51.9 percent of the vote versus 48.1 percent for remain. U.S. stocks plunged on the news Friday , with the Dow Jones industrial average closing down more than 600 points. The S&P 500 and Dow erased year-to-date gains and joined the Nasdaq composite in negative territory for 2016.

While the news was a shock to the system, the stock market's moves made no sense, said Lutnick.

"We didn't pull out of anything. Our country is not falling apart," he said. "There's nothing bad about the U.S. economy right now. There's nothing bad about the U.S. stock market."

In fact, he thinks the volatility provides a great buying opportunity.

— CNBC's Evelyn Cheng contributed to this report.

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts