CNBC’s Jim Cramer on Monday named the biggest losers and winners on the Dow Jones Industrial Average during the third quarter.
“Anything economically sensitive has been crushed and even high-dividend yields are no protection when the Fed is on the warpath,” he said.
Here are the winners:
- Home Depot
Stocks have declined dramatically this year due to persistent inflation, the Federal Reserve’s interest rate hikes, Russia’s invasion of Ukraine and Covid-19 lockdowns. The market has remained volatile as Wall Street worries about a potential recession.
As for the losers, Cramer noted that many of them have high dividends.
“In a Fed-mandated bear market like this one … dividends, well, they offer you no protection whatsoever,” he said, adding that high-yielding stocks can be even more dangerous than lower yielders, because a high yield is a sign the company might need to cut the payout.
Here are the losers:
Disclaimer: Cramer’s Charitable Trust owns shares of Apple and Disney.