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Charter (CHTR Quote) is a buy off Tuesday's market action, which saw stocks tank and bonds rise, Jim Cramer said on CNBC's "Stop Trading!" segment.
Cramer said the big worry in the market, which had the Nasdaq down 3% and the Dow Jones Industrial Average off 2%, is the subprime crisis. Lenders have reported increasing defaults and delinquencies, leading to larger worries about the financial sector.
Cramer said the subprime meltdown and this morning's 9% selloff in China point to a "worldwide slowdown" that will eventually force the Federal Reserve to cut interest rates. "This is the pain before the rate cuts," he said. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
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DOWN
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DOWN
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37.61
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