Cramer says tech stocks could bottom one day after Nasdaq’s nosedive

Jim Cramer on CNBC’s Halftime Report.

Scott Mlyn | CNBC

CNBC’s Jim Cramer said tech stocks could bottom Thursday, one day after the Nasdaq‘s 3.3% plunge on rising bond yields and Federal Reserve tightening concerns.

The “Mad Money” host said he’s glad there’s so much negativity in the market because as a stock picker for his charitable trust, there are many names on sale.

Nasdaq futures moved lower Thursday, even as Dow futures edged higher.

The Nasdaq’s slide Wednesday was its biggest one-day loss since February 2021. The Dow Jones Industrial Average and S&P 500 on Wednesday fell 1% and nearly 2%, respectively, after closing at record highs earlier this week.

Cramer said he’s encouraged by the Nasdaq’s premarket drop Thursday because “eventually sellers exhaust themselves.”

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