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As investors access geopolitical risk, there is one wild card, expert says

  • U.S. will careful when comes to Syria, Prudential's Quincy Krosby said
  • She thinks North Korea could be the real issue.
  • However, she said a pullback could be a buying opportunity.

Geopolitical risks may be weighing on the market, but the U.S. will be careful when it comes to Syria — it's North Korea that could be the real issue, expert Quincy Krosby told CNBC on Wednesday.

"That's the wild card – not our actions in North Korea but their actions, because it is a very unstable regime," the market strategist at Prudential Financial said in an interview with "Power Lunch."

Tension on the Korean peninsula has escalated amid concerns that North Korea may soon conduct a sixth nuclear test and after Washington said over the weekend that it was diverting an aircraft carrier strike group toward the Korean peninsula in a show of force.

Meanwhile, on Wednesday, Secretary of State Rex Tillerson met with Russian President Vladimir Putin in Moscow. Tensions between the two countries have intensified after last week's U.S. airstrike on a Syrian air base.

U.S equities were lower Wednesday as investors assessed the situation and the safe haven trade continued, sending Treasury yields down and gold futures up.

However, Krosby pointed out that the market has been "incredibly resilient" given the backdrop of geopolitical concerns. She also thinks a pullback is "absolutely a buying opportunity."

Kate Warne, investment strategist at Edward Jones Investment, agrees the market has been "extraordinarily resilient."

"While this is a risk, it is certainly in the headlines, it is certainly important, I think it plays out very slowly and it will sort of just be sort of a dull roar of anxiety behind the scenes as investors really focus on much more of the fundamentals and the economy," she told "Power Lunch."

She's anticipating earnings may come in above expectations.

"That may not be a catalyst … for stocks to move higher but it's reassuring and it should continue the trend of stocks moving up but perhaps with a little more volatility," Warne said.

— CNBC's Fred Imbert and Reuters contributed to this report.