Wall Street seemed poised to bounce back from October’s $2 <a Here we go: biggest tech takeout."
He was referencing Marvell’s $115 billion purchase of Lumentum, and the timing instantly revived jokes about Cramer’s notoriously mixed market calls.
Why Did the investors quickly returned to the same worry that wiped more than $2 trillion from the Nasdaq 100 in October: how long can Big Tech continue pouring billions into AI without generating adequate returns?
Oracle fell nearly 9% after unveiling a plan to raise $20 billionopped almost 13%
White House Says AI Has Plenty of Money
At the same time, White House economic adviser Kevin Hassett brushed aside concerns of an AI financing crunch.
“There’s so much cash in the ecosystem that I think that people should be reassured,” Hassett said.
Nearly 70% of S&P 500 firms ended the session in the green, with the downturn still centered on leading technology stocks.
Regarding Cramer’s alleged curse, the Inverse Cramer ETF—meant to profit from his opposite moves—tumbled 15% before closing in 2024.
Investors now look ahead to Tuesday’s U.S. midterm elections and Friday’s jobs report, with confidence in the AI trade already rattled.
