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Tuesday’s choppy session saw a shift in market trends as piping hot tech and artificial intelligence names that have largely led the market as of late pulled back while companies from the broader economy saw gains, CNBC’s Jim Cramer said.
“When the market roared earlier today, it was all about the non-data center parts of the economy — the Rip Van Winkle economy that’s been asleep for ages, frankly,” he said.
The indexes seesawed on Tuesday as Wall Street digested commentary from Federal Reserve Chair Jerome Powell as well as news of escalating trade tensions between the U.S. and China.
President Donald Trump agitated investors towards the end of the day with a Truth Social post that said the U.S. is considering “terminating business with China having to do with Cooking Oil” in retaliation for Beijing refusing to buy U.S. soybeans.
