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The Dow snapped its 10-day win streak on Tuesday in response to the latest drama surrounding North Korea, but the market's response was actually pretty muted, investing expert Michael Yoshikami told CNBC.
"This is a market that wants to go up for some reason. Is it reasonable that the market pauses after 10 straight days of up? Sure. It should be reasonable and if you are looking for a reason to sell, we just got it," the CEO of Destination Wealth Management said in an interview with "Closing Bell" on Tuesday.
U.S. equities closed lower on Tuesday after President Donald Trump warned North Korea that its threats will be "met with fire and fury." The remarks came just hours after revelations that Pyongyang has created a miniaturized nuclear weapon designed to fit inside its missiles.
The Dow Jones industrial average closed 33.08 points lower at 22,085.34 and the closed 0.24 percent lower at 2,474.92.
"Investors are on autopilot. They have been on autopilot," said Dani Hughes, pointing to the large shift from active investing to passive investing.
"It's complacency squared because investors not only won't do anything about it, they kind of can't do anything about it. There's no way that you're going to outgun any of the systematics that will take place … when something really does occur," the CEO of Divine Capital Markets told "Closing Bell."
Yoshikami believes part of that complacency stems from the fact that investors have short-term memories.
"Investors, I think in large part, have forgotten what it's like to have a downturn. When you start seeing money pouring in 100 percent equity ETFs sort of assets, people don't remember that the S&P was down 50 percent during the financial crisis."
—CNBC's Fred Imbert contributed to this report.
CORRECTION: Michael Yoshikami is CEO of Destination Wealth Management. His surname was misspelled in an earlier version of this article.