Friday’s sharp decline for stocks, spurred by concerns over a new Covid-19 variant, is not a buying opportunity, according to CNBC’s Jim Cramer.
“We’re going to wake up next week and find one [case] in this country, and I’m not going to recommend anyone buy anything today until we’re sure that isn’t going to happen. And I can’t be sure that it won’t,” he said Friday on CNBC’s “Squawk on the Street.”
“No panic. Let others panic. We’ll profit Monday,” he added.
The Dow Jones Industrial Average dropped 800 points at the opening bell, for a loss of 2%. The S&P 500 declined about 1.3%. The sell-off followed the World Health Organization warning on Thursday about a new variant that’s been…