Market commentator and popular TV personality Jim Cramer vented frustration Tuesday over strong economic data triggering panic in high-growth sectors such as artificial intelligence and cryptocurrency.

Cramer Finds Knee-Jerk Reaction ‘Stupid’

Cramer described the reaction as a “big freakout” that “never ends,” affecting stocks such as NVIDIA Corp. (NASDAQ:NVDA) and those related to cryptocurrency, quantum computing, and data centers.

“It is just stupid,” the "Mad Money" host said.

See Also: Jim Cramer Dumped All His Crypto Three Years Ago, Vowed Never In A ‘Million Years’ — Bitcoin Surged 416% Since That Proclamation

What Led To Initial Sell-Offs?

The post was made shortly after the data showed the U.S. economy grew 4.3% in the third quarter, well exceeding expectations of 3.3% and recording the fastest rate of expansion since the third quarter of 2023.

Typically, strong economic data reduces expectations for near-term Federal Reserve rate cuts, putting pressure on rate-sensitive assets such as stocks. According to the CME FedWatch tool, the odds of a 25 basis point cut in January fell from 19.9% to 14.4% in 24 hours.

And while some of these stocks, including those from the popular “Mag 7” cohort, dipped pre-market, they recovered in subsequent sessions to close higher.

That said, leading cryptocurrency names, including Coinbase and Strategy Inc. (NASDAQ:MSTR) closed in the red, but that had more to do with volatility in Bitcoin (CRYPTO: BTC).

Interestingly, Nvidia shares also dipped in the pre-market session when the second-quarter GDP came in better than expected in August.

Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about NVDA and other stocks here.

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• Jim Cramer Is Bullish On This Tech Stock: ‘Continue To Own It’

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