CNBC's Jim Cramer knew investors would be counting on him to explain the stock market's weakness after the Dow Jones Industrial Average dropped over 830 points on Wednesday in its sharpest decline since March.
"When everyone's terrified, justifiably or not, ... I like to step back for a second, get a battle plan going, pull out the 'Mad Money' sell-off playbook [to] help explain what's happening [and] what it will take for the pain to end," Cramer said. "Spoiler alert: I don't see it ending any time soon unless we get some major concrete changes."
The causes of the sell-off — which began shortly after the Federal Reserve raised interest rates and forecast several more rate hikes in an attempt to cool a strong economy — were sixfold, the "Mad Money" host said.
But above all else, he blamed the Fed for not looking more closely at the economic data before announcing its lockstep rate hike plans.
"I am sick and tired of a Fed that reverts to a non-rigorous, non-homework-oriented approach every time things look good," he lamented. "It's like they unlearned all the lessons of the Great Recession."