Market sell-off won't last as there's no tech bubble to burst, CIO says

"I do not see any reason to be concerned that you're going to enter a bearish pattern where the market is overbought and therefore people are going to sell. I just don't see that pattern," Manish Singh, chief investment officer at Crossbridge Capital, told CNBC.

Pointing to the Nasdaq, Singh noted that on an equally-weighted basis — giving each stock the same weight regardless of market capitalization — the index is flat over the last three years. "This is no different than what you see in a U.S. election year, where you have a seasonality around August and September, and then post-election, the market starts rallying," he said.

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