“The folks I do know who have been presupposed to go there, it was type of like a cruise — I am not going there. I am not going to threat going to Barcelona,” Cramer mentioned on “Squawk on the Road.”
“You are not used to listening to these hard-bitten executives say, ‘I am personally, personally anxious,'” he added.
The world’s largest commerce present for the cell phone trade had been scheduled for later this month in Barcelona, Spain. About 100,000 folks attended in 2019. However organizers this yr canceled the occasion on Wednesday, saying “international concern concerning the coronavirus outbreak, journey concern and different circumstances” made it “unattainable” to carry it.
Greater than 64,000 folks have been recognized with coronavirus, and no less than 1,380 folks have died. The overwhelming majority of instances are in China.
As of earlier this week, Spain solely had two confirmed instances of the coronavirus.
The choice to cancel MWC speaks to the wide-ranging results of the outbreak, the “Mad Cash” host mentioned.
It was clear the coronavirus was impacting the enterprise group, with factories shutting down as employees stayed at residence and airways canceling hundreds of flights to China, for instance.
However Cramer mentioned the MWC cancellation sheds gentle on how executives are viewing the state of affairs almost about their very own well being, not simply the welfare of their staff.
“That has not been the story. Now we’re on the, ‘I do not wish to get damage [phase],'” he mentioned.
— CNBC’s Ryan Browne contributed to this report.