Financial market maven and CNBC “Mad Money” host Jim Cramer assessed Monday’s 600-point decline in the Dow Jones Industrial Average paired with the mass of sell-offs in October, particularly in the technology sector, as obvious signs the stock market is in “a very serious correction.”

In particular, the FANG (Facebook, Amazon, Netflix, Google-Alphabet) stocks have been on a downward spiral amid third-quarter earnings season, falling as much as 10% from their top-of-the-world 52-week highs. The fabulous four plus one more, if you want to include Apple, have been leading the growth-fueled, decade-long bull run strength to strength, but now things have gone awry.

Nonetheless, the red prices in FANG stocks should signal a buying opportunity for investors seeking a value proposition in these tech giants, but Cramer is noticing otherwise.

“Their stock is pretty inexpensive,” said Cramer. “They have more than $100 billion in cash. They own search. They own online video. They own the self-driving car market, at least for now. I think it’s an outright buy. But no one cares.”

Related: Richmond Fed President Says Rates Must Keep Rising

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.