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Cramer said Obama's comments regarding Russia scared the markets, causing it to reverse course and head even lower. Investors now fear sanctions could impact upon global growth, causing a flight to safety in bonds. "No one's sure what to pay for stocks in this environment," Cramer continued.
That was the case with PVH Corp (PVH), a company that paid $2.9 billion to acquire Warnaco last year only to miss estimates, sending shares down 14% for the year. That was until today, when investors changed course, spiking shares up 3.5% on the hopes that the deal may actually bear fruit in the second half of 2014.
Then there's Facebook (FB), a stock Cramer owns for his charitable trust, Action Alerts PLUS. Facebook shares are up 139% over the past 12 months. Yet, the recent acquisitions of WhatsApp and virtual reality goggle maker Oculus have sent shares skidding as investors just can't figure out how either of these deals will be accretive to earnings.
Cramer said when there's no news, the markets fill the void with politics -- and that's almost always bad for stocks. As we've seen today, investors are heading for the hills, not quite sure what's coming next.
You can bank on the breakup, Cramer told viewers, as he turned his sights on FMC Corp (FMC - Get Report), the chemical maker that announced Wednesday that it will be spinning off its minerals business early next year.
Cramer explained that FMC is actually three companies bundled into one. FMC has an agriculture division, a health and nutrition segment and a large commodity minerals business. While the ag and health divisions are solid secular growers, Cramer said they've both been weighed down by the cyclical minerals division that needs a robust economy to do well.
Wall Street likes things simple, Cramer explained, and anytime there are cyclical and secular components all mixed together, the true value of a stock is almost never fully realized. Making matters worse, FMC hasn't been investing in its minerals division due to fears that it would become too large a segment within the company.