No Cramer Effect As Economic Worries Sink Stocks

The “Cramer Effect” couldn’t offset economic worries today as stocks plummeted with the Dow Jones industrial average falling 200 points. With stocks down across the board, not a single one of Jim Cramer’s stock picks from Friday’s Mad Money show posted a gain today. 

Pharmacy retailer Walgreens (WAG: 28.55 +0.81%) dropped 5.7% after reporting worse than expected quarterly results. The disappointing earnings results weighed more heavily on the stock that Cramer’s comments on Friday that he liked the stock “a lot”. 

Other stock picks that tumbled today: 

MetLife (MET: 42.06 +4.63%) down 7.5% – “MetLife did not need TARP. It’s a very good situation. Two thumbs up.”

JP Morgan Chase (JPM: 40.28 +0.17%) down 6.1% – “It’s a good time to buy JP Morgan on sale.”

Union Pacific (UNP: 74.67 +0.43%) down 5.3% – “They have the ability to cut costs and grow not just revenue but income.”

First Merit (FMER: 19.71 -0.66%) down 4.5% – “I still think that FMER is going to be the winner, when the smoke clears.”

BP (BP: 38.47 0.00%) down 4.1% – “It’s a good time to buy BP on sale.”

Hasbro (HAS: 42.15 +0.77%) down 3.3% – “Hasbro is a cheap stock and has steady, consistent growth.”