Stocks claw back from vicious sell-off. Cramer, others on what’s next
The market’s recent volatility has befuddled some top investors and analysts.
Stocks tried to claw their way back from a vicious sell-off Tuesday, with the Dow Jones Industrial Average and S&P 500 marginally rising after seeing their worst days in months. Monday’s selling was partly fueled by a debt crisis at Evergrande, one of China’s largest property developers.
Market analysts largely held firm that Evergrande’s issues shouldn’t have a major impact on the global economy despite concerns to the contrary.
Here’s what CNBC’s Jim Cramer and others said Tuesday:
Cramer, host of CNBC’s “Mad Money,” expected a downdraft in China’s economic growth, but said there should be little to no ripple effects:
“My Chinese sources, which are actually pretty decent even though I’m considered to be not necessarily complicit with the regime, are saying, ‘Listen, we’ll keep this one in China. This money is…