Though Wall Street was having a tough time on Tuesday, with the S&P 500 falling for a third day, some market professionals told CNBC the losses are only temporary.
"It feels as though we're going through a bit of a rotation where momentum stocks are getting sold off, but the broader market seems to be hanging in pretty nicely. I think that, you know, this is part of the volatility we're going to have to get used to," Art Hogan, chief market strategist at Wunderlich Securities, said on "Squawk Alley." "But I certainly think there's a lot of runway ahead of this market."
After the markets performed "perfectly well" last week, it seems investors are now reconsidering valuations, Hogan said. Those fears will subside, he said.