Cramer: Don't overreact to Trump crises — imagine if you sold Amazon during Clinton's impeachment

  • Investors should think twice about selling Amazon on fears surrounding Donald Trump's presidency, Jim Cramer says.
  • "There's always something," he says.
  • Amazon has soared more than 1,900 percent since President Bill Clinton's impeachment.

Investors should look to history before selling their Amazon stock on fears surrounding Donald Trump's presidency, CNBC's Jim Cramer said Wednesday.

Cramer's comment came as U.S. stocks fell sharply on Wednesday as traders became increasingly worried about the political turmoil surrounding Trump.

The New York Times reported on Tuesday that former FBI Director James Comey wrote a memo that said Trump had asked him to end his probe of former national security advisor Michael Flynn's connections to Russia. The news prompted questions on whether the president attempted to obstruct justice. Some Democrats called for Trump's impeachment.

Cramer said on "Squawk on the Street" that investors would have regretted selling their stock during former President Bill Clinton's impeachment.

On Dec. 19, 1998, Clinton was impeached by the House on charges of lying under oath about the Monica Lewinsky affair. Clinton was acquitted by the Senate.

Amazon in mid-December 1998 was trading around $47 per share on a split-adjusted basis. The stock has soared more than 1,900 percent since then to more than $950 per share as of Tuesday's close.

"There was always something," Cramer said.

— CNBC's Matthew Belvedere contributed to this report.