Jim Cramer Says 'One-Two Punch' From Government And Meta CEO Mark Zuckerberg Led To Nasdaq's Monday Decline: '...May Have Been Too Much For Everyone'

Jim Cramer has offered insights into the recent struggles of the Nasdaq Composite, which failed to rally despite gains in other major indices. The tech-heavy index dipped 0.38% while the Dow Jones Industrial Average rose 0.86% and the S&P 500 increased 0.16%.

What Happened: Cramer attributed the Nasdaq’s decline to a “one-two punch” from the U.S. government and Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg. Over the weekend, the Biden administration introduced new restrictions on semiconductor exports, which Cramer criticized as “short-sighted,” CNBC reported on Monday.

"The tag team of the government and Meta may have been too much for everyone," Cramer said.

In an interview with Joe Rogan, Zuckerberg criticized Apple Inc. (NASDAQ:AAPL) for its perceived lack of innovation and supported some claims in the Department of Justice’s antitrust case against Apple. Cramer described Zuckerberg’s comments as “self-serving and one-sided,” expressing surprise at the public criticism of a peer company.

Cramer compared the situation in the tech sector to the pharmaceutical industry, which also faces government restrictions. He noted that some drug stocks managed to rise on Monday, as CEOs effectively advocated for their products.

He questioned whether the challenges faced by these industries were merely “glancing blows,” concluding that the government and Meta were responsible for the Nasdaq’s struggles that day.

Why It Matters: The Nasdaq Composite’s recent performance reflects broader market trends and reactions to policy changes. On Jan. 13, U.S. stocks showed mixed results, with the Nasdaq falling over 1% while the Dow and S&P 500 experienced fluctuations.

The semiconductor export restrictions introduced by the Biden administration have significant implications for tech companies, potentially affecting their global competitiveness and supply chains. Additionally, Zuckerberg’s criticism of Apple highlights ongoing tensions in the tech industry, particularly concerning innovation and antitrust issues.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.