This is only the start of volatility: Experts

Is the economy ready for higher interest rates?
Is the economy ready for higher interest rates?   

The volatility being experienced by U.S. markets is only the start of even more to come in the near future, market experts said.

"Whenever the Fed changes gears from easing to tighter, there's volatility. We're going to see a lot of volatility, a lot of 20- and 30-point swings in the S&P on a day-to-day basis," Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, said Tuesday on CNBC's "Squawk on the Street."

U.S. stocks were sharply lower Tuesday morning, with all three major indexes down more than 1 percent as the dollar was at its highest levels in more than a decade. Click here to see what the markets are doing now.

"The Fed always thinks it can do a smoother job of raising rates than what actually happens," Wren added. "The problem is not when the first hike occurs, but the magnitude and speed at which the Fed is going to go, and I think the Fed is going to go very slowly. They know they have to be careful and the market's going to be volatile."

Another reason why volatility will likely continue is the geopolitical situation in Europe, said Jordan Kotick, RBC Capital Markets' head of cross-asset strategy. "When you look at the global picture, it is a huge mistake to assume that you can only focus on the United States," he said in the same interview. "When we look at April, May and June, you have the Podemos party getting more popular in Spain, a U.K. election, the Greece negotiations and the Iran negotiations."

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"The volatility we're seeing now is a foreshadowing of the volatility that will only pick up as we get to May and June of this year," he added.

Euro will break below parity: Willis
Euro will break below parity: Willis   

Currency headwinds also will add to the markets' volatility, Ben Willis, senior floor broker at Princeton Securities Group, said.

"We're in the midst of a currency war that started several years ago and we're just seeing the fallout continue as the United States now tries to defend a rising dollar that's going to continue to rise and the euro, I believe, breaks below parity," he told CNBC's "Squawk on the Street" in another interview on Tuesday.

Yra Harris, partner at Praxis Trading, agreed with Willis' remarks in another interview on Tuesday.

"This is a currency war. It was started by the Fed, not with QE1, but with QE2 and QE3. They didn't know what they had to hammer when everything was in nails, and now you can't extract yourself," he said. "Simon and Garfunkel said it best: 'All my words come back to me in shades of mediocrity,' and this is where we're at. Everything the Fed has done and everything they thought they weren't responsible for is now coming back to them in spades through the action of the dollar."

Willis also said S&P 500 stocks will be hit the hardest by these headwinds, as almost every stock in the index generates more than 50 percent of its earnings in another currency.