CNBC’s Jim Cramer said the market sell-off may have reached an end, noting that the averages rallied on Monday and “maybe the worst is behind us.”
‘”I think the sell-off could finally be over,” he said. “Stop waiting for a correction to give you better buying opportunities, we just had one for heaven’s sake.”
Cramer listed several tech companies that have had notable losses over the past few months, including Nvidia and Microsoft.
Nvidia’s stock was hit as investors worried about the Federal Reserve’s next interest rate decision, even though the company announced a promising new graphics chip, Cramer said. Microsoft rallied after solid earnings and cloud business success, according to Cramer, but it still declined along with the rest of the market. Cramer said both stocks have since bounced back.
He acknowledged that some may think he’s just cherry-picking these declines in tech, but Cramer said he’s just looking at equities that were considered “the great growth stocks of the era” until the market “changed its stripes” at the beginning of March.
“In the end, we had a rough time going into the Fed meeting, a rough time going through earnings season, and we were anything but unscathed,” he said. “There were some huge losses racked up, ones that could easily have made people head for the hills and avoid the whole asset class.”
Nvidia declined to comment, and Microsoft did not immediately respond to a request for comment.
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