Stocks tumbled on Monday, December 17, with investors cautious over the health of the world economy and two key policy events in focus this week.
With U.S. stocks having their weakest performance in December in 16 years, the Federal Reserve's decision on interest rates Wednesday will be paramount in defining both the final trading days of the year and the broader market tone heading into 2019. Most Fed-watchers expect the central bank to raise rates for the fourth time this year on Wednesday, but also will be looking for clues on tightening into next year.
The Dow Jones Industrial Average fell 171 points, or 0.71%, to 23,929, the S&P 500 declined 0.63%, and the Nasdaq was down 0.49%.
Johnson & Johnson (JNJ) - Get Report
The maker of baby powder hit the headlines on Friday, Dec. 14 after Reuters released a detailed report that accused the company of knowing that the baby powder possibly contained asbestos.
- Johnson & Johnson Extends Slump Following $40 Billion Baby Powder Crisis Wipeout
- Watch: Peeling Back the Band-Aid: Johnson & Johnson
Cramer weighs in on the effects that this could have on the Real Money stock of the day.