CNBC’s Jim Cramer cautions savvy investors to think twice before selling off stocks amid fears surrounding Donald Trump's presidency.
"There's always something," he told CNBC.
The S&P 500 and the Dow were headed for their worst day in more than eight months as reports of a leaked memo by former FBI chief James Comey spooked investors, raising questions about whether Donald Trump tried to interfere with a federal investigation, Reuters reported.
Trump asked Comey to end a probe into former National Security Adviser Michael Flynn's ties with Russia, according to the reports.
The news comes on the heels of a tumultuous week at the White House when Trump unexpectedly fired Comey and then disclosed classified information to Russia's foreign minister about a planned Islamic State operation.
Meanwhile, Cramer said investors would have regretted selling their Amazon stock holdings during former President Bill Clinton's impeachment.
On Dec. 19, 1998, Clinton was impeached by the House on charges of lying under oath about the Monica Lewinsky affair. Clinton was acquitted by the Senate, CNBC reported.
Amazon in mid-December 1998 was trading around $47 per share on a split-adjusted basis. The stock has soared more than 1,900 percent since then to more than $950 per share as of Tuesday's close, CNBC reported. At midday Wednesday, Amazon shares were trading at about $955.74.
The latest developments cast a shadow over Trump's proposed business-friendly policies such as tax cuts and simpler bank regulations, which have underpinned a record-setting rally on Wall Street.
"I think the biggest issue right now is what does this mean for the plan that we thought we were on," Jeremy Bryan portfolio manager at Gradient Investments in Arden Hills, Minnesota, told Reuters. "Is it delayed or is it dead?"
And while many of his campaign vows have yet to be fulfilled into presidential accomplishments, Trump will be a demanding leader who applies the best of his negotiating skills to push for U.S. growth, bestselling author David Horowitz told TheStreet.com.
Trump won’t be an ideological purist like Republicans who support free trade but don't fight for fair trade, Horowitz said.
Horowitz's new book, "The Big Agenda: President Trump's Plan to Save America," reveals Trump's strategy to roll back Obama's legislative and executive record.
“If the economy grows as it will under Trump, there's going to be a lot more money to spend,” he said.
"Big Agenda: President Trump's Plan to Save America" is available at bookstores everywhere – or get your copy on Amazon – Click Here Now
(Newsmax wire services contributed to this report).
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