Cramer says stocks may fall sooner than expected because Wall Street is so negative

CNBC’s Jim Kramer said on Monday that the current poor investor sentiment in the market could send the market down soon.

“We also need … that everyone thinks the market can only go down. We need wholesale capitulation. Bullish selling, like when Covid hit. Or even when the big banks were about to finish in 2009. Only then can we make a high sustainable, “the”money madAdded, referring to the repercussions of the financial crisis that lasted from 2007 to 2008.

“Because sentiment is already so negative, that bottom could come sooner than you think,” he added.

Kramer’s comments are Russian comments Intensification of the invasion Ukraine continues to shake Wall Street after weeks of volatility. S&P 500 Broad Market Index dropped 0.7% on Monday. The Nasdaq is down 2.04%, while the Dow Jones Industrial Average closes flat.

Bond yields rose before Federal ReserveThe expected announcement of a quarter-percentage point rate hike after its two-day meeting that concluded on Wednesday. The move, intended to help rein in high inflation, is the first of several interest rate increases the Fed is expected to implement this year.

Kramer said that while there are some stocks in a bull market, including healthcare companies, investors need to be patient in waiting for the snapback to rally.

“We need to get through this difficult period and we will get through,” Kramer said.