Jim Cramer in “Mad Money.”
Scott Mlyn | CNBC
On Tuesday a year ago, the S&P 500 suffered its worst one-day decline in more than three decades amid a severe week-long decline caused by the global coronavirus pandemic.
Shares have recovered more than the rapid fall in prices, driven by the government’s historic intervention that helped avert an even stronger crisis, CNBC’s Jim Cramer said Tuesday.
“If you’re just learning something from the pandemic … I want you to remember that betting on the end of the world is a sucking game,” the Mad Money host said. “The next time you think the world is over, you have to assume it’s not. I want you to take the other side of the trade. I want you to bet on the end of the world.”
The main averages dropped about a week after the March 16, 2020 session.
Since its inception last year, the Nasdaq Composite has doubled since Tuesday’s close of 13,471.57. The S&P 500 and Dow Jones Industrial Average recovered more than 80%, to 3,962.71 and 32,825.95, respectively.
Cramer credited Washington lawmakers and officials with contributing to the market change after thousands of business closures and millions of jobs lost.
“When our policymakers really learn from the past and our scientists work their magic, the darkest moment is really just before dawn and the light at the end of the tunnel is a genuine sun, not that of a train that is approaching, ”Cramer said.