CNBC’s Jim Cramer on Friday downplayed the stock market decline on President Donald Trump testing positive for the coronavirus, suggesting investors may want to consider buying on pullbacks.
“I’m not saying this is much to do about nothing,” Cramer said on “Squawk Box.” ”I am saying that people should have a buy list ready.”
Stock futures were sharply lower Friday morning as Wall Street digested the news that Trump and the first lady, Melania Trump, tested positive for the coronavirus. The president wrote in a tweet early Friday morning, “We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!”
The Trumps’ positive tests came hours after White House advisor Hope Hicks also tested positive for coronavirus. Hicks had traveled on Air Force One with the Trumps to Cleveland for Tuesday night’s first presidential debate.
Vice President Mike Pence and second lady Karen Pence have tested negative for the virus, the White House announced Friday morning.
Cramer said he hopes the president’s coronavirus infection convinces more Americans to wear masks to prevent the spread of the virus, which could have benefits for the U.S. economy.
The “Mad Money” host noted Trump has largely eschewed mask wearing during the pandemic. “Masks are the only hope we really have, particularly indoors,” Cramer said, while wishing the Trumps a fast recovery.