CNBC's Jim Cramer reviewed Monday's market action and gave his take on why a large swath of stocks are notching losses, focusing on bruised sectors like consumer goods.
"This is a market that rewards growth regardless of price," he said. "So, people will pay up for tech growth, which is all about real demand and pricing power, and they're avoiding companies that have lost pricing power and offer yields that are too low to compete with Treasurys."reviewed Monday's market action and gave his take on why a large swath of stocks are notching losses, focusing on bruised sectors like consumer goods.
Cramer suggested that the power in tech stocks related to artificial intelligence and accelerated computing has shielded much of the market from casualties weathered by other sectors. On Monday, the indexes largelyare now fairly risky to own. The spike in long-term interest rates is one reason for these stocks' decline, he said, saying they are vulnerable when bond yields climb higher.
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