The recent turmoil in emerging markets will not spur a major economic crisis and the unrest in EM markets is actually beneficial to U.S. stocks, says Rich Saperstein, Principal at Treasury Partners at HighTower. The problems in places like Turkey and Argentina will ultimately cause investors to return capital back to the U.S., according to Saperstein. This flight to safety is causing Treasury yields to fall which gives the Federal Reserve the cover to continue its tapering strategy, says Saperstein, who is overweight the health and technology sectors.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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