Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTAditi GangulySat, June 20, 2026 at 12:35 PM GMT+2 8 min readMoneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.Jim Cramer believes conditions are getting bleak for stock market bulls.On a recent episode of Mad Money, the CNBC host didn’t beat around the bush about his bearishness. “Things have changed. For the worse,” Cramer warned (1), adding that, “There’s a shroud over this market and you ignore it at your own peril.”Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s how to fix it ASAPJP Morgan sees gold hitting $6,000/oz before 2027 — and a Gold IRA lets you hold the physical metal while deferring the tax bill. Get your free guide from Priority GoldThe ultra-rich use these 5 real estate strategies to build wealth while they sleep — you can start with just $100Although there are multiple clouds darkening the market in Cramer’s mind, the most significant is the latest employment data from the Bureau of Labor Statistics. Unlike what many analysts expected — Cramer included — these numbers were actually pretty good, with total nonfarm payroll employment increasing by 172,000 (2) in May. Although unemployment data is still relatively high at 4.3% (3), it didn’t go up from last month, which is yet another positive sign.But while this may be “good news” for the overall economy, it’s a bummer for stock investors.The Fed questionCramer had pointed out that such high employment numbers mean the Federal Reserve is far less likely to cut interest rates this year. The better-than-expected jobs data is only one part of the equation. Inflation came in at 4.2% for May — the highest level in three years and well above the Federal Reserve’s 2% target (4).As Cramer expected, Kevin Warsh, nominated by President Trump as the new Chair of the Federal Reserve, held rates steady during the June 17 meeting.In fact, Cramer was so impressed with these employment numbers that he even suggested a rate hike might be possible, noting on his show that “You could argue we might need a rate hike to cool the economy, not a rate cut to turn the temperature up.”And Cramer isn’t the only one. CME Group’s FedWatch Tool has a 60.7% probability of a rate hike in October (5).Apple implodes before SpaceX explodesIt isn’t just the rate cut issue that’s giving Jim the jitters, as he’s also wary that all the recent hype in Big Tech is showing signs of fatigue.Case in point: Cramer noted how Apple’s stock declined after its 2026 Worldwide Developers Conference. News about Siri’s AI integrations with Google Gemini weren’t enough to wow investors, who sent shares tumbling by about 7% between June 4 and June 10.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info