Jim Cramer Says Stockholders Are 'Not Just Arrogant Rich People' As Markets Slide Over 5% Amid Trade War—Slams Trump Tariffs, Biden's Hostility Toward Business
As market volatility rises amid tariff concerns and retirement account withdrawals hit record highs, Jim Cramer advocates for greater political consideration of investor interests, challenging the notion that stock market participants are exclusively wealthy elites.
What Happened: CNBC’s “Mad Money” host Cramer said on Tuesday that politicians should acknowledge and respect investors’ interests, emphasizing that “shareholders are a constituency” that deserves representation.
“We should be considered. It’s not just arrogant rich people who own stocks. In fact, the mega-rich love to come on the air and tell you the stock market is too dangerous,” Cramer stated during his broadcast.
Cramer criticized both major political parties for failing to champion investors, noting that while President Donald Trump invited CEOs to the White House, he also imposed significant tariffs on their goods. He suggested former President Joe Biden was even more unwelcoming to big business during his administration.
Cramer’s comments come as the S&P 500, tracked by SPDR S&P 500 ETF (NYSE:SPY), has fallen 5.24% year-to-date, closing at 5,560 on Tuesday amid escalating trade tensions with China following Trump’s tariff announcement. Meanwhile, the tech-heavy Nasdaq-100, tracked by Invesco QQQ Trust (NASDAQ:QQQ), is down 6.82%, closing at 19,544.
Why It Matters: Cramer’s advocacy for shareholder interests follows his recent criticism of former Federal Trade Commission Chair Lina Khan‘s opposition to mergers and acquisitions, which he described as “a one-woman wrecking crew for your stock portfolio” that primarily benefits “the largest, wealthiest companies” who can afford litigation costs.
Meanwhile, Vanguard Group data shows a record 4.8% of 401(k) account holders took hardship withdrawals in 2023, more than double pre-pandemic rates, despite average balances increasing by 10% to a record $148,153.
Financial author Ramit Sethi warns Trump's proposed tariffs could cost median U.S. households over $2,500 a year, hitting lower-income Americans hardest. He urges calm in markets but recommends a 12-month emergency fund—advice he's only given during the COVID-19 crisis
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