Debt ceiling fight won't spur volatility—yet: Pro

Polcari: Countdown to debt crisis

Just as Wall Street was able to digest news that the Federal Reserve would not start unwinding its unprecedented monetary stimulus program, defying what seemed to be conventional wisdom that a taper would happen, some traders and investors are now focusing on a possible government shutdown.

(Read more: How dangerous would a government shutdown be?)

Kenny Polcari, a CNBC contributor and director of NYSE floor operations for O'Neil Securities, told CNBC's Sue Herera he thinks the looming debt crisis and threat of a possible government shutdown will likely put pressure on the markets.

(Read more: Debt ceiling fight 'damn dumb,' says Warren Buffett)

—By CNBC's Drew Sandholm. Follow him on Twitter @DrewSandholm

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