Are you worried now, Jim?
Stock picker Jim Cramer, host of CNBC’s “Mad Money,” predicted on Monday that the stock market would avoid a free-fall this month — only to see the Dow Jones industrial average plunge as much as 700 points in less than two days.
“Nothing worries me in the sense of looking for a big sell-off in December, but I’m looking for more reasons for it to go higher,” Cramer said on CNBC’s “Squawk Box” early Monday.
That’s despite increased market jitters over an iffy economic outlook and trade tensions with China.
The Dow fell moments after Cramer’s hopeful comments, dropping 90 points during the first half-hour of trading.
After losing 268.37 points Monday, it dropped more than 400 points Tuesday after President Trump said he might delay a China trade deal until after the 2020 elections.
The blue-chip index was recently off 342.16 points, or 1.2 percent, at 27,440.88, leaving it down more than 600 points since Cramer’s comments.
In the final month of 2018, the Dow plunged by more than 4,000 points as concerns about economic weakness, political gridlock, global trade uncertainty and fear of higher interest rates weighed down on investor confidence.