Source: CNBC

“CNBC’s Jim Cramer said Monday that the persistent sell-off in the stock market has gone beyond concerns about a slowdown in global economic growth and what the Federal Reserve will do on interest rates this week and next year. ‘This was a soul-searching weekend for many of us because you left on Friday kind of in disbelief that the market could just fold. And it’s not just worldwide slowing growth. It’s not just fear of the Fed. But it’s basically exhaustion,’ Cramer said….’I think that there’s a lot of people who say, ‘I got to get out. I got to get out, because everyone else is getting out,’ said Cramer. ‘It’s not a safe market. It’s a treacherous market. This is the most treacherous market I’ve seen in a many a year.’ The Fed, which meets Tuesday and Wednesday, is in a tough spot, Cramer said, reiterating that if central bankers don’t raise rates they risk really scaring the market about the economy. Fed Chairman Jerome Powell should increase rates this week and then pause, the ‘Mad Money’ host said.”

 

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