Cramer: Yield is Your Best Friend

Jim Cramer, Host of Mad Money, said investors willing to venture into the stock market should seek yields when asked about Tuesday's global sell-off caused by worries over Japan's nuclear-power crisis.

During an interview on Squawk on the Street, Cramer advised investors to look for stocks that were yielding between 3 to 4 percent, and are now yielding 4 to 5 percent, and are typically not involved with nuclear energy.

"I do believe there are many bargains created provided you are using a yield cushion," he added; "otherwise just wait."

Below is a screen of the S&P 500 including companies with dividend yields equal or greater than 3.5 percent and a price to earnings (PE) ratio less than 20.

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