Stocks extended sharp declines Wednesday after trading resumed following a plunge of more than 7% in the S&P 500 that set off circuit breakers and a trading halt.
It was the fourth trading halt invoked over the past two weeks.
The Dow has wiped out all the gains achieved since Donald Trump was inaugurated in January 2017.
So, what's on Cramer's mind today?
Watch the full video above for more.
Jim, what's top of mind for you this morning?
Social dissidence. I like that. What's top of mind is just that I said in several Real Money pieces, which I think people should subscribe to, if you haven't by now. I've done over 40,000 blog entries. I said that we should take out 2300. Why? Because that's the level we hit intraday on December 24th, when we thought that Powell was going to put us in recession. And we hit that level, okay? Now, are we going to hit that level and then bounce big? I think we hit that level and we test it again. I'm not sure we make it because now we're requiring an 11:30 conference call from the President, where they don't just talk about health. They have to talk about the financial health of the nation. They have to talk about equity in terms of helping the workers but also making it so that, say, Boeing doesn't go out of business. National treasure. Defense.
So, so many things are in flux. Number one is that, from the corporate side, we have to see the Federal Reserve get approval to be able to buy all the corporates at once. That has to happen. That's number one. Number two is we need to see a line of credit to Boeing and for the aerospace suppliers, $60 billion, because there are 17,000 suppliers, two million workers. And then, number three, we deal with restaurant, and retail, and travel and leisure. There I haven't come up with a plan yet. I'm working on it.
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