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The US will survive the Brexit storm, Nuveen's Bob Doll says

Fear not, Americans. The United States will be fine despite the turmoil the United Kingdom's vote to leave the European Union has caused, Bob Doll of Nuveen Asset Management said Tuesday.

"There's no question market sentiment is cautious to negative, and there's a ton of cash out there," the firm's chief equity strategist told CNBC's "Squawk Alley." "But what I like to do is observe the fact that the U.S. economy is 87 percent domestic, only 13 percent foreign trade. I think [the U.S. consumer], as shown by the consumer confidence earlier this morning, is feeling relatively OK. They are concerned about this thing across the pond, but a lot of U.S.-based companies that get most of their earnings here will be just fine."

Financial markets around the world were sent into a frenzy last week on the U.K.'s decision to leave the economic and political bloc, shocking most pollsters and bookmakers.

U.S. stocks rallied Tuesday, with the Dow Jones industrial average advancing 150 points in midday trade, while the Nasdaq composite and S&P 500 popped about 1.5 percent and 1 percent, respectively.

Commuters heading into the City of London walk in the rain across London Bridge, in front of the Shard skyscraper, in central London on June 27, 2016.
Odd Andersen | AFP | Getty Images
Commuters heading into the City of London walk in the rain across London Bridge, in front of the Shard skyscraper, in central London on June 27, 2016.

However, Jeffrey Sherman, deputy chief investment officer of DoubleLine Capital, was not so sanguine.

"All of these political ramifications are going to take months to play out, if not years," he said in the same interview on Tuesday. "The implications here are pretty broad. It is somewhat negative."

"We haven't completely recovered from the events we saw Thursday overnight throughout yesterday," he said.

The Dow lost nearly 900 points in the two trading sessions after the Brexit vote.

Dow 10-day chartSource: FactSet