TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer attributed Wednesday's losses at the open of trading to the "hangover" from Europe.

"People want to sell us because Europe is so heavy so we open down a lot and then we start thinking, aren't we different from Europe," Cramer noted, adding that the U.S. has less regulation and better employment prospects than Italy, for example.

Want exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

More from Video

Meet Blackbird, the New 'Uber of the Skies'

Meet Blackbird, the New 'Uber of the Skies'

Here's How to Trade Walmart, Nordstrom, Macy's and J.C. Penney After Earnings

Here's How to Trade Walmart, Nordstrom, Macy's and J.C. Penney After Earnings

Here's Why Stock Picking Is Especially Important in the Retail Sector

Here's Why Stock Picking Is Especially Important in the Retail Sector

Tip For Financial Advisors: Think Outside the Box

Tip For Financial Advisors: Think Outside the Box

Are Some Central Banks Dumping Their Gold?

Are Some Central Banks Dumping Their Gold?