The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Yes, Jim Cramer has been a bear lately. And guess what? He has been right, even though there was a late afternoon rebound on Tuesday. It seems that everyone has adopted a bearish outlook recently, which made Cramer even more worried.
There is plenty for the "Mad Money " host to dislike about the market recently, it seems that most other commentators are also bears, which prompted Cramer to clarify what would make him more constructive right now despite the endless torture.
"The Fed's indecision is a huge part of the overhang. Sometimes I wonder what do they know that we don't. What is the looming event they are so worried about? " Cramer asked.
And it's not just the Fed that Cramer doesn't like right now. It is a combination of the political backdrop, no one caring about a weakening dollar, Chinese struggles and good news meaning nothing these days that has him on edge.
"I don't hear much bullish commentary anymore from anyone. I feel most commentators have joined me in the bearish camp, and that's worrisome. The consensus is rarely right when people are all in, no matter what the direction," Cramer said.
Additionally Cramer has heard from many investors who have adopted a tortured and ugly sentiment. More likely, the market could be due for a bounce just based on the horrendous sentiment alone.
But most important, Cramer noted that empirically something has changed. Of the 1,500 stocks that are part of the S&P, 117 are down 50 percent from their highs. 600 stocks are down 25 percent from their highs.
That is staggering.
Cramer suspects that the majority of stocks will need to be down 25 percent for the market carnage to come to an end. With this in mind, he does think that there is more pain on the way simply because there are so many broken charts, broken funds and broken concepts that can't stop falling.
"As a defender of your capital, I am not going to let my guard down, but I am also not going to say 'nothing's really gone down and the rollovers have just begun.' They've been going on for months," Cramer said.
However there are stocks that Cramer remains constructive on, and if he weren't restricted he would be buying them for his charitable trust. He likes Eli Lilly, General Mills, ConAgra and is even willing to add McDonald's to the list.
Read more from Mad Money with Jim Cramer
So while that is not a long list, Cramer remains convinced that this market is more like what happened in 2011. That puts the downside target for the Dow at 15,231 and the at 1,768. Those levels are not far from where they closed on Tuesday.
In 2011 there was systematic risk to the U.S. banking structure. This time, the systematic risk that Cramer sees is offshore, and there is also political toxicity happening in the U.S. That is why he thinks the comparison still holds up.
"Yes, there is more pain ahead, but the saving grace is that we are getting closer to a bottom by the day," Cramer said. (Tweet this)
The torture might seem endless, but each day brings us closer to the end of this pain.