Skip to playerSkip to main content
Benzinga
  • 6 minutes ago
Jim Cramer slammed market selloffs in AI and crypto after strong U.S. growth data, calling the reaction a “big freakout” as higher growth reduced expectations for near-term Fed rate cuts.

Category

🗞
News
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Market commentator Jim Cramer criticized market reactions after strong U.S. economic data
00:07sparked sell-offs in high-growth sectors, including artificial intelligence and cryptocurrency.
00:13In a post on X, Cramer called a response a big freakout and said it repeatedly pressures stocks
00:18such as NVIDIA and names tied to crypto, quantum computing, and data centers. His comments followed
00:25data showing the U.S. economy grew 4.3 percent in the third quarter, exceeding expectations of 3.3
00:31percent and marking the fastest expansion since the third quarter of 2023. Strong data lowered
00:37expectations for near-term federal reserve rate cuts. CME FedWatch showed the odds of a January 25th
00:44basis point cut fell to 19.9 percent to 14.4 percent in a 24-hour period. Some technology
00:51stocks recovered after early declines. Cryptocurrency linked shares closed lower alongside Bitcoin
00:57volatility. For all things money, visit Benzinga.com.
Be the first to comment
Add your comment