CNBC’s Jim Cramer Warns of Dow Doom Ahead of Possible New Lockdowns: Everyone is ‘Fearful’

 

CNBC’s Jim Cramer believes additional coronavirus lockdowns may be coming. And with those lockdowns, Dow Jones doom may follow.

Appearing on CNBC’s Squawk Box Wednesday, Cramer said he believes that restrictive measures such as those announced Tuesday in Chicago are on the horizon, and that without a stimulus deal, the implications for the market may be dire.

“I just think that there’s going to be a call for lockdowns the likes of which we’ve seen in Chicago,” Cramer said. “And I think that the lockdowns without the stimulus equals what we’re seeing,” he added — referring to the market’s freefall this week. (As of this writing, the Dow Jones is down more than 800 points on Wednesday. Cramer’s commentary was delivered before the market open.

Cramer alluded to the “European syndrome,” as many nations on that continent are currently adopting restrictive measures — including the closure of bars and restaurants. The CNBC analyst does not believe that will happen in the U.S., but without a stimulus deal, investors will tread lightly.

“With stimulus, we’d be very tempted to own some of these stocks,” Cramer said. “But right now, I think everyone’s just fearful.”

Watch above, via CNBC.

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Joe DePaolo is a Senior Editor at Mediaite. Email him here: joed@mediaite.com Follow him on Twitter: @joe_depaolo