GoKawiilCramer: Markets overweighting downside risks after hot CPI data
Jim Cramer said on CNBC's Mad Money that investors are too focused on negative scenarios after a hotter-than-expected CPI report pushed Treasury yields higher and raised bets on a Fed rate hike. The Nasdaq fell 0.74% and the S&P 500 dropped 0.38% Tuesday, with Fed officials Lorie Logan and Christopher Waller both signaling support for further rate increases. Oil fell below $90 per barrel amid hopes for a Middle East de-escalation.