Market commentator and popular TV personality\u00a0Jim Cramer\u00a0vented frustration Tuesday over strong economic data triggering panic in high-growth sectors such as artificial intelligence and cryptocurrency.<\/p>\n
Cramer described the reaction as a \u201cbig freakout\u201d that \u201cnever ends,\u201d affecting stocks such as NVIDIA Corp. (NASDAQ:<\/a>NVDA<\/a>) and those related to cryptocurrency, quantum computing, and data centers.<\/p>\n \u201cIt is just stupid,\u201d the “Mad Money” host said.<\/p>\n The big freakout\u2013never ends. You get a strong number and Nvidia and crypto and quantum and rockets and data centers go down. It is just STUPID<\/p>\n Don’t Miss:<\/p>\n The post was made shortly after the data showed the\u00a0U.S. economy grew 4.3%<\/a>\u00a0in the third quarter, well exceeding expectations of 3.3% and recording the fastest rate of expansion since the third quarter of 2023.<\/p>\n Typically, strong economic data reduces expectations for near-term Federal Reserve rate cuts, putting pressure on rate-sensitive assets such as stocks. According\u00a0to the CME FedWatch tool, the odds of a 25 basis point cut in January fell from 19.9% to 14.4% in 24 hours.<\/p>\n And while some of these stocks, including those from the popular \u201cMag 7\u201d cohort, dipped pre-market, they recovered in subsequent sessions to close higher.<\/p>\n See Also: Americans With a Financial Plan Can 4X Their Wealth \u2014 Get Your Personalized Plan from a CFP Pro<\/a><\/p>\n That said, leading cryptocurrency names, including Coinbase and Strategy Inc. (NASDAQ:<\/a>MSTR<\/a>) closed in the red, but that had more to do with volatility in Bitcoin (CRYPTO: <\/a>BTC<\/a>).<\/p>\n Stocks<\/p>\n 24-hour Gains +\/-<\/p>\n NVIDIA Corp. (NASDAQ:<\/a>NVDA<\/a>)<\/p>\n +3.01%<\/p>\n $189.21<\/p>\n Microsoft Corp. (NASDAQ:MSFT<\/a>)<\/p>\n +0.40%<\/p>\n $486.85<\/p>\n Amazon.com Inc. (NASDAQ:AMZN<\/a>)<\/p>\n +1.62%<\/p>\n $232.14<\/p>\n Coinbase Global Inc. (NASDAQ:COIN<\/a>)<\/p>\n -2.26%<\/p>\n $242.30<\/p>\n Rigetti Computing Inc. (NASDAQ:RGTI<\/a>)<\/p>\n -6.58%<\/p>\n $25.11<\/p>\n