The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
Attack on Saudi oil facilities shows that 'risk is real', Chevron CEO Michael Wirth said on CNBC's "Closing Bell" Monday.Marketsread more
J.P. Morgan's chief quant says oil prices would start to hurt stock prices when they hit the $80 to $85 range.Market Insiderread more
Walmart said Monday it's relaunching the once-beloved trendy New York fashion brand, Scoop NYC, on its website nationwide and in select stores.Retailread more
The sell-off on Wednesday was absolutely hideous, but in Jim Cramer's opinion — it wasn't bad enough.
"It's not panic; it's methodical. It's not nuts; it's algorithmic. It's not erratic; it's actually in sync with the rest of the world," the "Mad Money" host said.
As of Wednesday's market close, the was down 9 percent for the year. At one point during the day it was down 12 percent, which was painful for many investors.
"All that decline means is that our stock market is pretty much in line with many of the other markets around the globe," Cramer explained. (Tweet This)
Money managers are global in nature and make decisions based on the value of stocks in entire countries and continents. Given that the average stock in the S&P trades at 16.3 times earnings, the U.S. is more expensive than other countries. Therefore, it made sense to Cramer that the U.S. stock market would be down so much.
Every other country in the world right now is in crisis mode and has banks and politicians trying to stimulate the economy. Meanwhile, the Federal Reserve is busy trying to figure out how to slow down the U.S. economy.
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Therefore every macro-oriented money manager is probably shorting the U.S. stock market and going long for a country like Germany.
"That's the logical thing to do," Cramer said.
The S&P also bounced from key levels of support on Wednesday, especially around 1,830. Sure enough, the buyers came in.
"I wish they hadn't. We can't get a washout, the whoosh we need to banish the weaker hands and have all the selling dry up until we go lower," Cramer said.
Ultimately, stocks in the U.S. aren't cheap enough, so, they are stuck in no-man's land. Cramer thinks this market needs to see some sort of a fundamental change before worldwide investors feel comfortable putting their money into the U.S. stock market.