The Dow is down over 120 points today, with the S&P down almost 17. Speaking to Erin Burnett during today’s Stop Trading! segment, Cramer called the sell-off “interestingly correct,” saying yesterday’s Fed decision to keep short-term interest rates unchanged led some investors to think a recession might be coming.
Retail numbers didn’t help the situation either. But no one should have been surprised, Cramer said. The numbers weren’t worse than expected, they were expected to be bad – and that’s why the sector isn’t taking too hard a hit. He recommended using the pullback is a chance to buy in.