Jim Cramer Slams 'Big Freakout' Selling In Nvidia, AI, Crypto Stocks After Strong GDP Print: 'It Is Just Stupid'

Core Viewpoint - Strong economic data has led to panic in high-growth sectors like artificial intelligence and cryptocurrency, with market commentator Jim Cramer criticizing the reaction as "stupid" and a "big freakout" [1][2]. Economic Data Impact - The U.S. economy grew by 4.3% in Q3, surpassing expectations of 3.3%, marking the fastest expansion rate since Q3 2023 [2]. - Strong economic data typically reduces expectations for near-term Federal Reserve rate cuts, which puts pressure on rate-sensitive assets like stocks. The odds of a 25 basis point cut in January dropped from 19.9% to 14.4% within 24 hours [3]. Stock Performance - Despite initial sell-offs, stocks from the "Mag 7" cohort, including NVIDIA Corp. (NASDAQ: NVDA), Microsoft Corp. (NASDAQ: MSFT), and Amazon.com Inc. (NASDAQ: AMZN), recovered and closed higher [3]. - Specific stock performance over 24 hours included: - NVIDIA Corp. (NASDAQ: NVDA): +3.01% to $189.21 - Microsoft Corp. (NASDAQ: MSFT): +0.40% to $486.85 - Amazon.com Inc. (NASDAQ: AMZN): +1.62% to $232.14 - Coinbase Global Inc. (NASDAQ: COIN): -2.26% to $242.30 - Rigetti Computing Inc. (NASDAQ: RGTI): -6.58% to $25.11 [5]. Cryptocurrency Market - Leading cryptocurrency names like Coinbase and Strategy Inc. (NASDAQ: MSTR) closed in the red, primarily due to Bitcoin's volatility [4].