Jim Kramer of CNBC, who has been warning people for weeks to lock-in on the profits of some stocks, advised investors to find places to buy potentially in the wake of Monday morning’s sharp market sell-off.
Expressing concern about Europe’s second coronavirus lockdown, Kramer said: “We’re landing on something that no one really understands.” He said that from what he sees, the U.S. It is not moving in that direction.
“I’m tempted to take the other side of a trade, I’m looking for opportunities. It’s not like we just discovered the loss,” Kramer told CNBC. Said on U.S. The stock market has fallen sharply in three weeks and many of the largest American tech companies have seen their shares pull back double-digit percentage points this month.
“Mad Money,” said the host, “maybe there’s something to buy.” “I’m looking for an opportunity because everything is ugly. Isn’t it when you look for an opportunity?” He added. “I like the down opening.”
“I know you get a lockdown in Europe and you have a problem with some banks and it causes us to go down big? I don’t know. I don’t think it’s appropriate,” Kramer said. , Which shows that large banks reported પ્રવૃત્તિ 2 trillion in suspicious activity to regulators in nearly two decades.
The Dow Jones Industrial Average broke 600 points in early trading on Monday, while the Nasdaq plunged further into the traction region defined as more than 10% above its recent closing high, which was actually a record high on September 2nd.
In addition to the Covid-19 spikes in European countries and weakness in bank and tech stocks, there was also market concern about Supreme Court make-up 43 days before election day following the death of liberal pancreatic judge Ruth Bader Ginsberg on Friday. Cancer.
A war of words erupted over the weekend in Washington over whether Trump should choose Jensberg’s replacement or the next president.
The Republicans, who have won a slim majority in the Senate, vowed to fill the Liberal Titan seat immediately. Democrats and at least two Senate Republicans, Lisa Murkowski of Alaska and Susan Collins of Maine, said they oppose taking action before the Nov. 3 election.
The fight to change Ginsberg has also raised concerns about whether legislators and the White House could be too distracted before the election, if to break their deadlock on additional coronavirus stimuli.
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