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U.S. markets were thrown for another roller-coaster ride Wednesday as investors reacted to the ongoing negotiations between Greece and other euro zone countries.
The Dow Jones dropped 100 points before regaining about 50 points in Wednesday's trading session. Nevertheless, Hedge Fund Manager David Tepper told CNBC on Tuesday that the markets would survive in spite of Greece's situation. "A deal would be good for the markets, but I think the markets could survive even if it goes the other way," he said.
Other market experts, including Holland & Co. Chairman Mike Holland, agree with Tepper's assessment. "He's a bad person to vote against," he said on CNBC's "Power Lunch" on Wednesday. "He's been very successful, and he is actually reflecting what the markets are saying. When Greek news got ugly in the last several days, the Greek market went down, but the European markets shrugged it off, [as did] markets in Asia."
Others, however, believe that forgiving Greece's debt could set off a dangerous precedent. "The big deal, and why we saw the volatility in the equities markets … is that, if Greece is allowed to get a haircut, we've already been told by lesser countries within the European Union [they'd want a haircut, too], " Ben Willis, senior floor broker at Princeton Securities Group, said in the same interview.
Nevertheless, Willis added he believed that Greece's exit would have a minimal effect on the EU. "If we put in the perspective of the United States, we'd be talking about Rhode Island leaving the U.S. It's not a big deal." He also said Greece should and will leave the EU.