Jim Cramer has issued a stark warning about a possible market crash, reminiscent of the 1987 event, if President Trump does not ease his tariff plans. Following Trump's announcement of a 10% blanket tariff on imports, the markets already saw a significant downturn, with the Dow losing nearly 4,000 points in two days. Cramer argues that if there is no attempt to negotiate with affected countries, the market's fate could resemble that historical crash. His future support for tariff policies depends on actions taken by Monday to mitigate market damage.
If the president doesn't try to reach out and reward these countries and companies that play by the rules, then the 1987 scenario... has the most cogency.
The president shocked the global economy on Wednesday when he announced a 10% blanket tariff on all imports to the US.
If President Trump stays intransigent and does nothing to ameliorate the damage that I saw these last few days, I'm not going to be constructive here.
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