Jim Cramer warns that growth stocks could see ‘more horror’ after CPI data release

CNBC's Jim Cramer connected Wednesday warned that maturation stocks could instrumentality different beating if the October user terms scale speechmaking shows that ostentation is inactive moving rampant.

"If we get a steaming blistery CPI reading, you're going to spot much fearfulness connected your screen, truthful that's wherefore radical sold up of it," helium said.

The CPI measures the prices for a handbasket of goods and services. Investors volition parse done the October report, acceptable for merchandise Thursday morning, for immoderate signs that ostentation has cooled with the presumption that the Federal Reserve could past easiness its brisk gait of involvement complaint hikes.

Stocks fell connected Wednesday, weighed down by a crypto sell-off and uncertainty astir which governmental enactment volition summation power of Congress pursuing the midterm elections. The market's diminution comes aft 3 consecutive days of gains.

Cramer echoed his proposal to investors successful caller weeks to enactment distant from semiconductor and tech stocks, including names similar Meta, Amazon, Apple, Netflix and Alphabet. 

"When rates spell up, you instantly get this kneejerk sell-off successful virtually everything, but particularly successful tech," helium said, adding: "Some of these companies are doing overmuch amended than others, yet they each commercialized the same."

Disclaimer: Cramer's Charitable Trust owns shares of Meta, Amazon, Apple and Alphabet.