Cramer says sell-off may be over, pointing to Big Tech correction

CNBC’s Jim Cramer said the market selloff may be over, noting that averages recovered Monday and “the worst may be behind us.”

“I think the liquidation might finally be over,” he said. “Stop waiting for a correction to give you better buying opportunities, we just had one for goodness sake.”

Cramer listed several tech companies that have suffered notable losses in recent months, including Nvidia And Microsoft.

Nvidia stock has been hurt by investor concern over the Federal Reserve’s upcoming interest rate decision, even as the company announced a promising new graphics chip, Cramer said. Microsoft recovered after strong profits and the success of the cloud business, according to Cramer, but it still declined along with the rest of the market. Cramer said both stocks have since rebounded.

He acknowledged that some might think he’s simply picking these dips in the tech sector, but Cramer said he was only interested in stocks that were considered “the great growth stocks of the day” until what the market “changes its colors” at the beginning of March.

“Ultimately, we had a tough time before the Fed meeting, a tough time during earnings season, and we were far from unscathed,” he said. “There were huge accumulated losses, which could easily have caused people to flee and avoid the entire asset class.”

Nvidia declined to comment and Microsoft did not immediately respond to a request for comment.

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Disclaimer The CNBC Investing Club Charitable Trust owns shares of Nvidia and Microsoft.