Mad Money

Cramer: Unsettling WWII parallels reason to sell?

No hurry to buy today's selloff: Cramer

(Click for video linked to a searchable transcript of this Mad Money segment)

Vladimir Putin has given investors some big reasons to sell. And it looks like he may give them more.

"Putin is getting more intransigent, again, about Ukraine," said Jim Cramer.

And although the "Mad Money" host doesn't believe the events will lead to war, the images coming out of the region certainly don't look as if a resolution is at hand, either.

Cramer fears developments could rock markets, in part, because they bear a disturbing resemblance to events that preceded World War II.

Russian President Vladimir Putin, March 8, 2014.
Sasha Mordovets | Getty Images

"I will admit that the parallels are a little eerie," Cramer said.

"In the 1930s Hitler was demanding a corridor through Poland to Danzig, a port city on the Baltic Sea with a huge number of ethnic Germans even though it was located within Poland. Now Russia wants a Crimean corridor to the Black Sea, right through Ukraine, because Crimea is largely Russian and also because Russia's Black Sea fleet is based in Sevastopol."

To U.S. investors, that parallel may seem more like an interesting point of history rather than a serious market catalyst, but Cramer believes the lessons of WWII are not forgotten overseas.

"For Europeans, developments are just too reminiscent of what their fathers and grandfathers went through."

And it appears tensions could escalate fairly quickly.

"Secretary of State John Kerry said there could be serious steps taken Monday if a Crimean secession vote occurs this Sunday. Who wants to own stocks through the weekend? Better just to sell and come back Monday if nothing bad happens," Cramer noted.

Therefore, if world events remain tense, Cramer wouldn't be surprised to see the market move sharply lower again on Friday.

"That combination—a deadline, some armies, and some commitments by the West to take action—is everything you need to provoke a vicious selling on Wall Street."

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That's not to say there haven't been some positive signs in the market. "We got positive results from and , the latter were spectacular and they suggest that the consumer is still spending," Cramer added.

But right now, the market doesn't care.

Wall Street is focused on the slowdown in China and what's happening in Russia. A few impressive quarterly reports are no match for those catalysts. "I do, however, think there will be a time to buy weakness," Cramer added, "but not yet. Right now I see no hurry to buy."

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