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Jim Cramer says it’s time to ‘start buying something’ after coronavirus-driven declines

Traders work on the floor of the New York Stock Exchange (NYSE) on the morning that online image board Pinterest Inc. makes its initial public offering on April 18, 2019 in New York City.

Spencer Platt

CNBC’s Jim Cramer said Wednesday investors should look at buying some stocks after two days of major coronavirus-related declines.

“I think you’ve got to start buying something,” Cramer said on “Squawk on the Street.”

The “Mad Money” host said he understands more bad news related to the virus outbreak could happen, such as increased cases in the U.S. and possible deaths.

But he said he still believes there are some opportunities for investors in the market, particularly for those who have ample cash on hand.

“If you have a lot of cash, let’s say you have 20% cash, you’re not going to put 1% to work?” Cramer said. “Are you really going to think that nobody has anything going on?”

Cramer has previously said this week that drug companies remained attractive stocks even as markets fell. He also has urged investors to stick to the facts and be cautious.

Cramer’s comments come as stocks opened higher on Wenesday.

Global markets have fallen this week as investors respond to growing coronavirus cases outside of mainland China.

Ahead of Wednesday’s open, the Dow Jones Industrial Average, S&P 500 and Nasdaq were lower for the year and stood roughly 8% off their record highs from earlier in February.

“If you haven’t put anything to work, I think you’re playing with fire,” Cramer said. “Look I would obviously say put it all to work if I felt you didn’t have these other shoes [to drop].”


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