Stocks were mixed Wednesday with the S&P 500 and Dow Jones Industrial Average both spending much of the day in the red while the Nasdaq held gains.
TheStreet's Katherine Ross discussed the day's latest breaking news with Jim Cramer, who spoke about pressure on Google, Facebook and coronavirus's effect on the market.
Google Denies Demonetizing Right-Wing Websites
Alphabet's Google (GOOGL) - Get Report is facing scrutiny from both sides of the political aisle after conflicting reports about the company demonetizing a pair of conservative websites on its advertising platform.
"I really don't understand what Google was doing frankly. It seems like Google is getting investigated by the government for the wrong things," Cramer said.
Facebook Letting Users Turn Off Political Ads
Facebook's (FB) - Get Report decision to enable users to turn off political advertisements following criticism about the lack of controls of truthfulness in ads of Facebook is "enough," according to Cramer. He said it's easy for him to say that CEO Mark Zuckerberg needs to do more, but Zuckerberg needs to do more on his own.
Listen to what Cramer has to say about the latest developments with Facebook.
Investors and the Coronavirus Spike
U.S. coronavirus cases have spiked in Texas, Florida and Arizona as those states have started reopening businesses following a lockdown. The U.S. now has 2.1 million coronavirus cases and more than 116,000 deaths. Jim Cramer said it all comes down to markets believing that rising cases are "isolated" and the disease can be contained. Remember to wear your masks and social distance to prevent the spread.