Jim Cramer on Sunday night urged investors to keep a level head, even as U.S. stock futures plunged, extending last week's tariff-driven sell-off. "I'm not going to panic. I'm not going to say, 'Get out now.' I think you have to stay the course here," Jim said during a special broadcast on CNBC. "Let's just be a little cooler. Recognize that there is going to be some pain. You can't dodge it," he added later. S & P 500 futures were down 3.6% as of 8:40 p.m. ET, building on the 10.5% drop the index registered across Thursday and Friday's sessions. Futures tied to the Nasdaq 100 dropped 4.6%, and Dow futures were down nearly 1,400 points, or 3.5%. Stock markets in Asia-Pacific also plunged as their trading weeks got underway. U.S. oil dropped below $60 a barrel for the first time in four years — a clear sign that investors are worried President Donald Trump 's so-called reciprocal tariffs could ignite a global trade war that tips the U.S. into a recession. The yield on the benchmark 10-year Treasury also dipped below 4%. On Sunday's broadcast, Jim reiterated the message he sent to members earlier in the evening in his weekly column : It's too early to start aggressively buying the dip because the full scope of retaliation from U.S. trading partners, especially Europe, is not yet known. China announced a 34% tax on U.S. imports on Friday. "I think the biggest problem we have is that if you wanted to try and bottom fish tomorrow — and I don't advise that — you have to worry that Europe is going to come after us," Jim said. "I think if Europe comes after us between three to seven days later, that would be the moment where I think if you wanted to do some buying, you'd be fine." In navigating these volatile and uncertain markets, Jim said investors need to understand their individual time horizons and repeated what he wrote in Sunday's column: "I'm not saying it's too late to sell if, again, you need the money in the next year." But otherwise, Jim said it's important to remember the recent history of what has happened after major market declines. "It even made sense to stay the course in 2007," he said. While the S & P 500 at the time losing around half its value was "awful," Jim said, by 2013 "you were back, and then look at the move you missed if you decided you didn't want to be in it." (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
