Investor sentiment is being hindered by the U.S. presidential race, CNBC's Jim Cramer said Friday.
"Unfortunately, I think it's just a multiple depressor. I think it just makes people pay less for stocks," Cramer said on "Squawk on the Street." "You talk to international business and you think 'Is there any enthusiasm for [Donald] Trump?' and they look at you like 'Are you nuts? Of course not.'"
Cramer made his remarks a day after the last Republican debate before the Super Tuesday primaries and caucuses.
Trump, the GOP front-runner, was attacked by Sens. Marco Rubio of Florida and Ted Cruz of Texas. Rubio criticized Trump for lacking a detailed domestic policy plan, while Cruz said the real estate mogul would be a weak nominee against Hillary Clinton.
"This guy's a choke artist and this guy's a liar," Trump said, referring to Rubio and Cruz, respectively.
"It's the uncertainty that some people regard as this being a very unbecoming part of our country. What do you do? You're an international company, does this help us? No, so you pay less for earnings. It's pretty amazing because usually, with the Republicans, you pay more," Cramer said.
U.S. stocks have fallen broadly in 2016, with the Dow Jones industrial average and the both dropping 4 percent, while the Nasdaq composite has shed 8 percent.