Cramer says the market is treacherous right now and we need some stabilization in tech

CNBC’s Jim Cramer said Monday the carnage in tech stocks is not being reflected as much in the price-weighted Dow Jones Industrial Average because of this year’s strength in banks.

Cramer said, “The damage that’s happening to the markets is totally masked by the banks, which make the Dow Jones Average so good,” in comparison to the Nasdaq and the S&P 500, which have more Big Tech exposure. The Dow is solely measured by the average price changes of its 30 stocks and counts four major financial companies among its few members (Goldman Sachs, JPMorgan Chase, Traveler’s and American Express. Visa is also in the average but that stock is more reliant on consumer economic activity than…