Stocks fell sharply Thursday and Treasury yields hit a one-year high on fears of higher inflation.
On Thursday, a key benchmark that gauges stock performance flipped in favor of bonds as 10-year Treasury note yields edged past the estimated S&P 500 dividend yield.
TheStreet's Katherine Ross and Jim Cramer discussed breaking news in the stock market. Cramer spoke about Twitter's stock surge, the chip shortage, and markets on Thursday.
Twitter: Buy Or Sell?
Cramer said Twitter is the stock to watch today because it has become a way to reach people. "Twitter has become a friendlier place since the predecessor to Biden is no longer there. Twitter is now a key part of consumer goods and product companies to reach people and that changes everything."
The ongoing semiconductor chip shortage that made Ford (F) - Get Report cut production of its extremely popular F-15 pick-up truck at two plants and caused General Motors (GM) - Get Report to also warn about production delay, has now reportedly hit Tesla (TSLA) - Get Report.
Markets on Thursday
Cramer said interest rates are going higher so a lot of people are spooked. "It's wrong to be spooked because they're still very low, relatively. I am also watching Nvidia (NVDA) - Get Report, they had an absolutely good quarter but the market is in an angry mood today and this is an opportunity to buy. I'm looking for Nvidia to drop 25 points."