“When I say trust science, it doesn’t necessarily mean… buy on the stock market. But that most certainly means not to panic, ”said the host of“ Mad Money ”.
“Those who panicked and sold in the maelstrom” which was Friday’s liquidation are probably already regretting it, he added, shortly after the S&P 500 rose 1.3% on Monday.
Cramer acknowledged that the omicron variant could have economic consequences and stressed the need for investors to prepare for several scenarios, including a downturn that favors stocks like Amazon.
However, at this point, Cramer said there was no reason to make investment decisions out of fear, which he said came on Friday when the Dow Jones Industrial Average posted its worst session since. October 2020.
In addition to his confidence in vaccine makers, Cramer also expressed confidence in Federal Reserve Chairman Jerome Powell to monitor the impact of the variant on the economy and steer monetary policy accordingly.
“The last two sessions have been another demonstration that panic is not a strategy for you. It’s not a strategy at all, ”Cramer said. “Am I worried about the omicron variant?” Of course, I’m not a fool, but we’ve seen this movie before and we know how it ends. ”
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