Jim Cramer Is Watching European PMI Figures on Wednesday

TheStreet's Jim Cramer says watch European PMI (Manufacturing Purchasing Manager's Index) figures for clues on the eurozone's economy. The numbers will be released by Markit. Cramer says, 'I think that this is what you have to watch because a lot of the selling today is just a total carry over from Europe.' He continues, 'Now some of that is obviously Volkswagen but we are linked with them and a lot of what's happening is also because the dollar has gotten strong again.' Cramer says 'any strength in Europe could take away the upside pressure on the dollar which is vital as we go into earnings period.' The PMI index gives a reading on how the manufacturing sector is doing. Any reading above 50 signals growth.