'Put your emotions to the side and try to make reasonable decisions...without letting the irrational action infuriate you,' said CNBC's Jim Cramer.
, and others saw broad selloffs despite initial upswings. Instead of judging these companies based on their current health, Cramer said their stocks plunged "purely because they've been down. Well, there you go, that's total circular reasoning."
Cramer also noted that the market is out of whack because stocks are being used as "macroeconomic pawns" rather than getting judged on their individual merit. For example, tech stocks have been sensitive to the volatile bond market. As rates go up, investors assume that growth stocks like tech have less earning potential so tech goes down.
"I find this kind of action repugnant because it has nothing to do with what's really happening at individual companies," said Cramer.
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