Jim Cramer on “Mad Money.”
Scott Mlyn | CNBC
The S&P 500 suffered its worst decline in more than three decades on Tuesday a year ago, amid a severe decline of several weeks caused by the global coronavirus pandemic.
Stocks have more than recovered from the rapid price drop, bolstered by historic government intervention that has helped prevent an even stronger crisis, CNBC’s Jim Cramer said Tuesday.
“If you’re just learning one thing from the pandemic … I want you to remember that betting at the end of the world is a struggling game,” the ‘Mad Money’ host said. “The next time you think the world is ending, you have to accept that it is not so. I want you to take the other side of the trade. I want you to bet towards the end of the world. “
The key averages were about a week after the March 16, 2020 session.
Since its trough last year, the Nasdaq Composite has more than doubled since closing Tuesday, 13,471.57. The S&P 500 and Dow Jones Industrial Average both recovered more than 80% to 3,962.71 and 32 825.95 respectively.
Cramer credited lawmakers and officials in Washington for contributing to the market turnaround in the wake of thousands of business closures and millions of lost jobs.
“When our policymakers are actually learning from the past and our scientists are practicing their magic, the darkest moment is really just before dawn and the light at the end of the tunnel is real sun, not that of an oncoming train,” Cramer said. said.