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Cramer: The market is 'completely divorced' from Trump

  • Jim Cramer says the market assumes "we're not going to have anything."
  • "We're just going to have total chaos, so let's focus on the companies," he says.
  • Cramer also warns President Donald Trump to be careful.

The market isn't moving on the turmoil from President Donald Trump's comments about the deadly violence in Charlottesville. Virginia, because it "divorced" him, CNBC's Jim Cramer said Wednesday.

"The market is completely divorced from whatever is going on," Cramer said on "Squawk on the Street."

"Because I think the market just says, 'Listen, we're not going to have tax reform' ... We're not going to have anything. We're just going to have total chaos, so let's focus on the companies," he added.

Stocks were higher Wednesday as investors shifted their focus to the Federal Reserve's release of minutes of its most recent meeting.

At a heated news conference Tuesday, Trump double downed on his initial response to the hatred and violence in Charlottesville, blaming "both sides."

That prompted the resignations of two more members of the presidential manufacturing council: AFL-CIO President Richard Trumka and the union's deputy chief of staff, Thea Lee.

One week before, stocks were lower on tensions between the U.S. and North Korea and Trump's rhetoric about the isolated Asian nation facing "fire and fury."

Regarding Trump's comments, Cramer said that "the president needs to be careful" and warned that the conflict in Charlottesville isn't a "right-left issue."

"Now I typically would never say that other than in 1972, '74. He needs to be careful because these are precepts that are held by most of our country and not just by the people who protested and took down the statues," Cramer said.

"These are long-held principals from Lincoln and from Eisenhower. ... You don't want to go against those guys," he added.

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