"If you don't believe consumers are going to shut down spending, at least at the margins, you're naive. Of course they are," The Gartman Letter founder Dennis Gartman told CNBC's "Squawk Box." "Even down in Virginia, where I live, you can sense people are very disconcerted about what happened."
Gartman said he was "befuddled, amazed, stunned" that stock markets moved higher following last week's attacks in Paris, for which the militant group ISIS claimed responsibility. What is clear, he said, is the events are detrimental to the European economy, and that euro parity with the dollar is not far away.
On Wednesday, the euro at 1.0667 against the dollar.
The focus of terrorists on attacks in public places could affect consumer and corporate behavior not just in Europe, but the United States, said Alison Deans, consultant at AA Deans Advisors.
"I think there could be some risk in the United States if we keep seeing these stories in the news," she said on "Squawk Box." "I think people become scared, and pull their horns in a bit. Uncertainty and fear are not very positive for overall spending and for growth and for people taking risk or investing."
Deans said she is becoming concerned that corporate profit growth could slow down and ultimately deteriorate next year because it is "very vulnerable" to a pullback in consumer spending.