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The action on Wall Street this week is a reminder of the importance of portfolio diversification, CNBC’s Jim Cramer said Wednesday, as tech-only portfolios have been getting beaten down during the bout of volatility.
“Tech’s a good part of the market, it’s just that many of these stocks suddenly aren’t worth as much as we thought. Some of that’s because the whole enterprise software cohort has gone out style thanks to AI,” Cramer said.
Both the S&P 500 and Nasdaq Composite
fell Wednesday thanks to an intensified sell-off in tech — a cohort that Cramer said some investors seemed to believe was the “only investable part of the stock market” in recent years. By contrast, the blue-chip Dow Jones Industrial Average
