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Jim Cramer calls Tuesday's market action ‘ridiculous' as averages tumble

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CNBC’s Jim Cramer reviewed Tuesday’s market action, saying some of it seems more extreme than is warranted.

CNBC's Jim Cramer reviewed Tuesday's market action, saying some of it seems more extreme than is warranted.

"This market's so ridiculous, you can knock it over with a feather or take it up with a breeze," he said. While he acknowledged that the economy is slowing, he suggested that interest rate cuts from the Federal Reserve are imminent."This market's so ridiculous, you can knock it over with a feather or take it up with a breeze," he said."This isn't the worst of times, it's just the worst of times for the stocks in certain industries and the best of times for others.

But on the flip side, Cramer said, many packaged goods stocks saw"radical rallies in unison" that some may not actually deserve as investors anticipate a slower economy."To me, this whole decline — which, again, I have said is not done — will end up being too extreme. The situation isn't as bad as we think when it comes to all of AI tech," he said.

 

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