NEW YORK (TheStreet) -- Sick of Greece's debt woes? You're not alone. Wall Street is growing tired of the issues surfacing between Greece and its lenders, as the struggling country seems to inch closer to default. U.S. stocks are reacting poorly, with the S&P 500 down 0.4%, although the index has erased half of its losses from early Monday trading.
The negative headlines about Greece will likely have less of an impact on U.S. stocks over time, Pete Najarian, co-founder of optionmonster.com and trademonster.com, said on CNBC's "Fast Money Halftime" show. These small selloffs give investors a decent buying opportunity, he added.
European bond yields are on the rise on concerns about other countries potentially exiting the eurozone, said Joseph Terranova, chief market strategist for Virtus Investment Partners. Even German equities are down significantly as concerns persist. Investors shouldn't jump into European equities just yet, he cautioned.
A correction of 10% or less would be a good buying opportunity and is long overdue, according to Stephen Weiss, founder and managing partner of Short Hills Capital Partners. Germany doesn't want Greece to exit the eurozone, because that would strengthen the euro and hurt German exporters, which is likely what's weighing on the Germany's stocks.
If Greece causes a deeper pullback, it's likely to be short-lived, added Sarat Sethi, managing director at Douglas C. Lane & Associates. Over the longer term, cyclical and financials stocks seem likely to pull the broader market higher.
Not all investors, however, care for financial stocks, one being Andrew Wellington, chief investment officer at Lyrical Asset Management. His fund has returned 26% per year since its inception as he sticks to the simple strategy of buying one to two stocks per year. his portfolio consists of just 33 stocks, and when a new one is added, another one must be removed.