We've seen two straight days of a market selloff on Monday and Tuesday.
In the past two days, the Dow has dropped nearly 1,900 points.
The declines have led to $2.14 trillion in losses, according to S&P Global.
Let's Go Over the Coronavirus
There are over 81,000 confirmed cases worldwide with over 2,700 deaths. Italy now has over 300 cases, with 11 deaths. To put that in context, Italy had around 15 confirmed cases on Friday, February 21.
The Centers for Disease Control and Prevention said Tuesday that Americans should be prepared for the disease to spread in the United States.
“It’s not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen - and how many people in this country will have a severe illness,” said Dr. Nancy Messonnier of the CDC in a call with reporters.
"Right now there are three sets of storylines that are in play, when only one of them is going to get you in and out of this market with your assets intact and your portfolio stronger," wrote Cramer in his Real Money column on Wednesday morning.
So, how should investors approach the markets? Here's Cramer's advice.
Then There's Disney
Real Money Stock of the Day Disney (DIS) - Get Free Report CEO Bob Iger stepped down Tuesday and Bob Chapek, who has led Disney Parks, Experiences and Products since 2018, was named as Iger’s successor.
Iger, who last year said he planned to resign in 2021, becomes executive chairman of Disney and will “direct the company’s creative endeavors,” the media and entertainment giant said.
“The company has gotten larger and more complex,” Iger said during a conference call with analysts. “I should be spending as much time as possible on the creative side of our businesses.”