'Mini March of 2020'? Time to buy the dip?

After Omicron hit the world, global stocks and oil prices plunged last Friday. The S&P 500 was last down 2%, while oil futures dropped more than 10%.

When the stock market is plummeting, some people believe it's "the time to be afraid is when others are greedy."

Friday's brutal market sell-off is a buying opportunity for both stocks and crypto assets, Anthony Scaramucci of investment firm SkyBridge Capital said.

Scaramucci believes the Federal Reserve is now less likely to tighten monetary policy as aggressively as it had planned because of the pandemic coming again.

The Skybridge Capital boss added that he sees the situation as a"mini March of 2020." Markets saw a steep sell-off as coronavirus first hit the world economy in the spring of last year, after which stocks rose again.

Stocks suffered their biggest falls since 1987 in March 2020, but huge stimulus packages from governments and central banks have since helped set them soaring. The S&P 500 has roughly doubled from its March 2020 low.

"If you believe in the long-term fundamentals as we do, this is the time to be buying," he said.