CNBC’s Jim Cramer said Wednesday that investors can find buying opportunities in the market after Wall Street recorded multiple days of losses.
The Dow Jones Industrial Average plunged more than 516 points, or 2.17%, to 23,247.97 for its third-straight negative trading session. The S&P 500 and Nasdaq Composite traded 1.7% and 1.55% lower, respectively, for their second-straight negative session.
The downside was fueled by concerns of an overbought market and exacerbated by a gloomy message from Federal Reserve Chairman Jerome Powell that the economy will need more propping.
“These kinds of sell-offs usually last about three days. This one started yesterday. I’m betting things begin to improve tomorrow around 2:30 p.m.,” the “Mad Money” host said. “That’s when the best rallies tend to begin [and] it’s going to start with the food” and drug stocks.
“If it doesn’t start by 2:30 p.m., wait until Friday,” he added. “Then you can slowly start buying your favorite stocks in the Cramer Covid…