Stocks were fluctuating in intraday trading on Tuesday, March 23.
And U.S. crude prices dropped below $60 a barrel following the planned lockdowns in Europe and a firmer U.S. dollar.
Fed Chairman Jerome Powell said in prepared testimony ahead of his appearance Tuesday before Congress that the U.S. central bank "will continue to provide the economy the support it needs for as long as it takes" since a recovery is "far from complete."
In the video above, Jim Cramer explains how oil is impacting his market moves Tuesday.
Recap TheStreet Live: Everything Jim Cramer Is Watching Tuesday