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Stocks Tumble and Crypto Crashes, Target Surges on Blowout Q1 Results, and should Cramer Add “AT&T People” to the “Wall of Shame”?

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Carl Quintanilla, Jim Cramer and David Faber explored a rough morning for the markets: Stocks selling off and extending Tuesday’s losses — especially in the tech sector, while Bitcoin and other cryptocurrencies experienced their biggest one-day drop since March 2020 after China banned financial institutions and payment companies from providing crypto services. Bitcoin came close to falling below the $30,000 level. The anchors discussed how investors should approach the cryptocurrency crash and the big pullback in stocks — including when it comes to some of the speculative names. But they also highlighted a bright spot: Target shares up sharply after much better-than-expected Q1 results, as same-store sales more than doubled analysts’ forecasts. The anchors reacted to what Target CEO Brian Cornell told CNBC about how the retailer is navigating supply chain issues. Big discussion surrounding Jim Cramer’s tweet about AT&T: “Debating putting the $T people on the Wall of Shame.. They have earned it. You really have to work at it to get on the wall”. Also in focus: The future for Apple TV+ in wake of the WarnerMedia-Discovery merger deal, plus earnings winners and losers.

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