So far, so good for the markets this week following positive vaccine news from Pfizer.
But the positive vaccine news from Pfizer (PFE) - Get Pfizer Inc. Report also saw investors turning more toward shares of manufacturers and energy companies amid bets for a swifter reopening of the economy.
However, President Donald J. Trump's refusal to concede the election and what many are calling a second wave of coronavirus cases continue to give Jim Cramer cause for concern Wednesday.
"You have to worry that the President seems to be so adamant that he's not going to get kicked out," Cramer said.
Cramer said Trump has Attorney General William Barr and the Senate on his side and will continue to do anything possible going forward to invalidate the election.
"The route to defeat the will of the people is not easy ...[but] people have to be aware this could happen," Cramer said.
Cramer said investors should treat any negative market impact from the President's election disputes as buying opportunities.
Jim Cramer breaks down everything moving the market including Apple (AAPL) - Get Apple Inc. Report, Alibaba (BABA) - Get Alibaba Group Holding Ltd. Report, Lyft (LYFT) - Get Lyft, Inc. Class A Report, Occidental Petroleum (OXY) - Get Occidental Petroleum Corporation Report, ServiceNow (NOW) - Get ServiceNow, Inc. Report, the election, the coronavirus and more in the video below:
According to the COVID-19 tracking project, there were 1.5 million new tests reported Tuesday. 130,989 new cases were reported across the United States Tuesday and 1,347 deaths were reported.
Per Johns Hopkins, there are 51.5 million cases of the coronavirus worldwide, with 10.2 million of those cases in the U.S. Worldwide, there are 1.2 million deaths with 239,695 deaths.
"I think we're in the second wave and I think it's brutal," Cramer said. "The more we know about this thing, the more we realize [what] we don't know, which is what is so incredible with what Pfizer did. They created a blueprint and figured out how to treat the blueprint."
Pfizer alongside BioNTech, announced that both had struck a deal to provide 200 million doses of their COVID-19 vaccine candidate to the European Union.
As part of the deal, the EU has an option to request an additional 100 million doses, the companies said in a statement. Deliveries are expected to begin by the end of 2020, subject to regulatory approval. The financial terms of the deal weren't disclosed.
Daniel Kuhn contributed reporting to this article.