Jim Cramer weighs in on the potential postponement of a U.S.-China trade deal, and what’s the one thing that new investors need to know about the volatility in the market.
What’s Going On With the U.S.-China Trade War?
President Donald Trump told reporters in London that a U.S.-China trade agreement may have to wait until after next year’s presidential elections.
Speaking to the media during a three-day visit to the British capital, Trump said he had no deadline in mind for a U.S.-China trade pact, adding that it would “probably be better” to wait until the end of the 2020 elections to finalize an agreement, adding any accord would be “dependent on whether I want it.”
“In some ways I think it’s better to wait until after the elections to deal with China, to tell you the truth,” Trump said. “In some ways, I think it would be better.”
How Should New Investors Handle Volatility?
Over on Real Money, Cramer wrote, “don’t be an armageddonist and live in fear of a crash.”
“You are sitting there glued to the tape. Epoxie’d even. Because you know it is going down. You can see stocks that are the new stalwarts, the Workdays WDAY and the Oktas OKTA , the Zoom Videos ZM and the Nvidia’s NVDA getting their heads handed to them. They’re being driven into the ground by 400-pound short-selling lineman. Then you watch the biotechs just getting pummeled, with nary a ref around to stop them from being obliterated. The FAANGS are being de-fanged like a wide receiver’s mouth sans mouth guard, defenseless after a dangerous crossing play,” wrote Cramer.
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