Jim Cramer told Action Alerts PLUS senior analyst Jeff Marks that it’s a case of the CDC versus the markets Wednesday. "It's the CDC versus capitalism," Cramer said.
After opening slightly higher, the Dow Jones Industrial Average led the markets lower in intraday trading.
On Tuesday, the Centers for Disease Control and Prevention updated its guidance on masking, suggesting that all people, including those who are fully-vaccinated, wear masks indoors in areas where coronavirus rates are spiking.
The CDC said the move is intended to combat the rapid spread of the delta variant of the coronavirus.
Cramer took to Real Money to explain the impact the CDC’s decision to update its recommendations on masking, paired with a deteriorating relationship with China and the ongoing chip shortage have led to increasingly negative sentiment on Wall Street.
“That has brought to the fore what most executives most feared: irrational optionality. That's right, other than the NFL, which has put the onus on the players to lose a game and forfeit a paycheck, nobody's doing anything remotely compulsory,” Cramer wrote.
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