Jim Kramer urged investors not to panic over the situation in the stock markets

Jim Cramer urges investor caution as markets rebound

Jim Kramer urged investors not to panic over the situation in the stock markets

Businessman and stockbroker Jim Kramer urged not to panic as the stock market suffered a major dip for the second time this week.

Due to the increase in the number of cases of coronavirus worldwide and the tightening of restrictions by a number of countries, the Dow stock index extended its black bar to four sessions. The last time the index fell by more than 900 points in April.

Jim Kramer believes that this is not a reason to get rid of all their assets, and advised investors to prepare shopping program in five key areas in the market.

Jim Kramer urged investors not to panic over the situation in the stock markets

«If you want to mentally prepare yourself for days like today, it is advisable to make a number of specific purchases. You cannot act without a clear plan, there are too many chances that you will end up with the wrong papers», – he said.

Dow Jones fell on Wednesday by 943 points, or 3.43%, to 26,519.95. Average Blue Chip Price Down 8%. Both indices S&P 500 and Nasdaq Composite also fell nearly 4% during the session, deviating 7% from October highs.

«You can just sit and wait for the rebound, but you can also sell some stocks to raise capital for the next round.», – added Kramer.

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The Chicago Governor Jay Pritzker banned service in bars and restaurants, starting next Friday. This decision was caused by a steady increase in the infection of city residents. Restaurants and bars with limited capacity open in Chicago in June.

In Europe Germany and France initiated new restrictions for businesses to slow the spread of COVID-19.

Kramer said this is reminiscent of the situation in March, when the market exploded as investors panicked. The businessman encouraged his audience to be prepared to look for buying opportunities in bull markets.

«If you are worried that stocks will continue to fall, check out some of these Covid-proofs. bull markets», – he notes.

The list of companies whose shares can help capitalize on the current situation include Marvell Technology, Broadcom, Qualcomm, Microsoft, Procter & Gamble, Lowe’s, Walmart, Ford, Tesla and others.