Trump said he will raise tariffs on $250 billion in Chinese goods to 30%, and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Bank of England Governor Mark Carney says trade war has a confidence effect on business around the worldMarketsread more
Supreme Court Justice Ruth Bader Ginsburg has completed a three-week course of radiation therapy for cancer, the top court said in a statement Friday.Politicsread more
After the horrific events that occurred in Paris on Friday, Jim Cramer found many worried investors wondering if the action on the tape on Monday was the real deal.
Could the U.S. be headed back into a murky slowdown, and could the Federal Reserve push the market into one if it raises rates?
"First of all, whenever there is a horrific terrorist attack, like Paris experienced on Friday, you know that you are not going to get a true market on the next trading day," the "Mad Money " host explained. (Tweet This)
Many of the buyers on Monday were what Cramer calls patriotic buyers. Those are investors who are looking to take advantage of any weakness in stocks in order to show the people that perpetrated these acts that it will not impact them.
In fact, when Cramer took a look at the underbelly of what is really going on in the market, it was ugly. There are some tremendous declines in companies that are linked to American manufacturing, which prompted Cramer to think we could be headed into a manufacturing recession, which could be very significant for much of the country.
When Cramer examined the state of the country, he took a bottom-up approach. He started by looking at individual companies first, rather than GDP numbers, labor reports or retail sales. This way he was able to get a grasp on how individual industries are doing.
"Boy, oh boy, are some industries doing terribly and need a declaration from the Fed that, in light of recent events, they have decided to let 2016 play out before thinking of tightening," Cramer said. (Tweet This)
The first industry in pain was the basic industries: steel, metals and mining. Cramer's main concern is that with the oil service market being shut down by low oil prices and the Chinese endlessly dumping steel around the world that steel companies won't be able to survive the downturn with the way that they are configured.
Read more from Mad Money with Jim Cramer
And the weakness was not just limited to industrials. Retail has been in a world of pain, too. Macy's is now down 42 percent for the year, which is astounding for America's largest broadline department store chain.
"Today was a good day for the averages, but don't get cocky. There is an ugly underbelly to this tape that says today's rally was just an oversold reprieve, and there is more pain to come," Cramer said. (Tweet This)
That is, unless the Fed decides to come to its senses and recognize the areas of weakness in the economy. Especially if it decides to push rates up just as the market heads into a downturn.