Cramer reluctant to buy market bounce, says ‘silly sellers’ could hit stocks

CNBC’s Jim Cramer said he doesn’t feel comfortable buying into Monday’s early stock market bounce, following Friday’s omicron-driven plunge, because the selling could resume in the event of future negative news about the highly mutated Covid variant.

The Dow Jones Industrial Average — which had been up nearly 400 points, or more than 1%, shortly after Wall Street’s open — gave up some of those gains. However, the S&P 500 and the Nasdaq were hanging on to most of their early session gains, advancing roughly 1% and nearly 1.5%, respectively. All three stock benchmarks sank more than 2% on Friday and finished lower last week.

Cramer said on “Squawk on the Street,” before Monday’s open,…