Rogers, Faber advise paring investments

SINGAPORE - Investors should consider paring their holdings after a plunge in US stocks on Thursday, according to Jim Rogers and Marc Faber.

Equities had a "normal correction" and were "overdue for a sell-off" after rallying from last year's low, Rogers, Singapore-based chairman of Rogers Holdings, told Bloomberg Television. "The market was overbought, ahead of itself and due for a correction," Faber, publisher of the Gloom, Boom & Doom report, said in a separate interview.

US shares tumbled as waves of computerized trading exacerbated a sell-off triggered by Europe's debt crisis. While the rout briefly erased more than $1 trillion in US market value as the Dow Jones Industrial Average plunged as much as 9.2 percent, the gauge closed 3.2 percent lower, the biggest decline since only April 20. The Standard & Poor's 500 Index fell 3.2 percent, paring losses of as much as 8.6 percent.