Wall Street made history Monday, with the Dow plunging over 2,000 points. With this kind of volatility, who better to break it down, than TheStreet’s own legendary founder Jim Cramer.
Starting today, Cramer will be answering the biggest questions shaping Wall Street, and the thoughts keeping investors awake at night. By the way, have a question? Ask us on Twitter, @TheStreet.
Here’s what was on Cramer and Wall Street’s mind Monday:
Global stocks sank and bond yields fell sharply as investors' fears about the spread of the coronavirus deepened and oil prices plunged as producers argued over how to cut production and lift prices as demand weakened.
Stocks were halted from trading shortly after the opening bell Monday after circuit breakers kicked in once the S&P 500 declined 7%.
So, with all of this, Wall Street is facing a lot of volatility and questions, but Jim Cramer is here to answer some of the pressing questions that are top of mind.
But let’s start with what’s top of Cramer’s mind Monday as the markets are in freefall?
“Well, I think this is a moment for leadership. It's a moment where we need fiscal stimulus to the point where we're not concerned. I don't care if it costs $100 billion. This is a moment where we need to be able to get the best minds in the world together and be able to solve this. I don't think that should be left to just the drug companies. It's a moment where we need tremendous leadership to be able to show that whether it be we have enough kits or whether we have enough hospital beds, if we don't then let's build them. I know that I would feel more confident if we had those things. Otherwise, we have to wait until lower levels. I don't regard, for instance, buying Walmart down 44 cents as a really great opportunity. I want stocks. All stocks to be down. Stocks should be put on sale. I'd mentioned Walmart only because like that's, well, I mean are you kidding me?”.
Watch the video above for 4 other exclusive tips from Cramer.
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