That’s how Jim Cramer described Monday’s sharp selloff in the stock market, which is shaping up to be the worst we’ve seen in several months amid mounting fears of the spread of the coronavirus.
So is it time for a little bottom-fishing ahead of a very crowded docket of earnings report in the coming days?
“We’ve been saying over and over if we get an exogenous event that’s when you get the sell off, that’s when you have to buy,” Cramer explained.
“I just don’t think today” is the time to buy back into the market, he warned, adding that he sees potentially taking a “second leg” down if the World Health Organization were to declare a global emergency over the coronavirus.
Trader Georgi Bozhidarov