CNBC host Jim Cramer made a series of posts on X over the weekend warning of another ‘Black Monday’ when the markets reopen on April 7th, in response to the tariffs imposed by the Trump administration.
What Happened: The former hedge fund manager drew parallels between the current market and that infamous week in October 1987, when the Dow Jones Industrial Average dropped 23% in a single day.
The tweets were in addition to the now-viral video of Cramer’s Friday Mad Money segment, where he claimed that if President Donald Trump ‘doesn’t reach out to the countries and companies that play by the rules’ then a 1987-like scenario has the ‘most cogency.’
Cramer highlighted the similarities between the 1987 crash and current events, such as the markets dropping for three consecutive days, before going off the cliff the following Monday, resulting in worldwide losses of an estimated $1.7 trillion.
Cramer states that things could be different this time around, owing to the circuit breakers that have been put in place, that help protect investors by curbing trades during periods of steep declines. However, this only helps in slowing down the crash, and not avoiding it outright.
US stock futures continued to tumble on Sunday evening, and as of the time of writing, Dow Jones Futures were down 784 points or 2.05%, the Nasdaq by 950 points or 5.73%, and the S&P 500 futures were down 322 points or 6%.
See More: Global Hedge Funds and ETFs Offload Over $40 Billion in Stocks Following Trump’s Tariff Announcement
Why It Matters: The series of posts put out by the popular TV host led to ‘Black Monday’ trending on X throughout the weekend, with several other influential finance users piling on with their own takes and concerns regarding the markets on Monday.
This comes amid growing opposition to the administration’s tariff policies, with several business execs and even Republican leaders and allies coming out against it over the past week.
Investor Bill Ackman, who endorsed President Trump in last year’s elections has joined the growing chorus against the tariffs, calling it an ‘Economic Nuclear War,’ before urging the President to call for a ’90-day time out’ that would give enough time for all parties to negotiate and work out ‘asymmetric trade deals.’
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