Cramer says ‘story stocks’ based on remote profits are in trouble

CNBC’s Jim Cramer said on Friday that investors should stay away from so-called history stocks, which are years away from profitability due to rising bond yields.

Equity investors are struggling with the implications of higher bond yields, Cramer said in “Squawk Box”, and “that means the paradigm is that we have to go lower and go lower in stocks than some big fund managers like, which are stocks of companies based on 2030 numbers. “

Cramer’s comments came shortly after the February employment report was released, which showed strong gains in the labor market and helped send the 10-year Treasury’s income to a new one-year high. The Dow Jones Industrial Average also jumped after employment data, the day after a strong Wall Street liquidation.