'I know this sounds odd,' CNBC's Jim Cramer says. 'But these are companies that the president sees as uniquely Democratic.'
. "It sounds like the president has had it with Apple for making so many goods in China," Cramer speculated.
"Those companies used to seem like the crown jewels of the U.S. economy. Now they're being treated more like enemies of the state," Cramer said. "If that's the case, people are going to pay a lot less for their stocks, which is exactly what we saw." Worries the federal government wants to slap more regulations on big technology companies weighed on tech stocks Monday, and pushed theinto a correction, more than 10% lower since its record closing high last month. However, on Tuesday morning, tech stocks were bouncing higher and the Nasdaq was logging the kind of gains that would lift the index out of a correction if they were to hold by the close.
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