Jim Cramer Is Trimming Portfolio as Coronavirus Cases Rise
Let's talk about the coronavirus.
There are 10.4 million cases of the virus worldwide, with over 511,000 deaths.
The U.S. has 2.6 million cases and 127,000 deaths.
On Tuesday, the U.S. reported 47,000 across the U.S., which beats previous records. This is the fourth time in a week that the U.S. has posted a new record for a single day.
Alaska, Arizona, California, Georgia, Idaho, Oklahoma, South Carolina and Texas all reported single-day highs. Arizona announced over 4,600 new cases, California announced 7,800 and Texas announced 6,800.
Dr. Fauci gave a stark warning yesterday, telling Senate members that we could see new cases rise to 100,000 a day if behaviors don’t change.
Currently, the U.S. is seeing an average of 40,000 cases per day.
"The numbers speak for themselves. I’m very concerned. I’m not satisfied with what’s going on because we’re going in the wrong direction," Fauci said. "Clearly we are not in total control right now.”
So, what does this mean for the economy, which is hurting after being shutdown?
Jim Cramer says that his Cramer COVID-19 index shouldn't be leading the market.
Watch the full video above for more.