Jim Cramer says the market can’t keep up with President Trump

After stocks initially soared before plunging into the red on Tuesday, CNBC’s Jim Cramer said the market is not equipped to react to President Donald Trump’s ever-changing statements and policies.

Speculation that the White House would quickly negotiate with trading partners and reduce its steep “reciprocal tariffs” set to take effect Wednesday prompted the Dow Jones Industrial Average to climb nearly 4% on Tuesday morning before ultimately closing down 0.84%. The Nasdaq rose 4.5% earlier Tuesday but ended the day down more than 2%. The S&P 500 also initially surged, yet it finished Tuesday close to bear market territory, down 19% from its record high reached in February.

The rally fizzled out by midday, as the White House confirmed 104% tariffs on China would begin on Wednesday.

When stocks open up big after days of sell-offs, Cramer said, they rarely maintain their gains. Emotion drove the morning rally on Tuesday, he explained.

“I think that because we finished yesterday well off the lows of the day, it was like someone said, ‘Hey, the coast is clear,'” Cramer said. “But the coast is based on facts, and right now the facts, well, they’re just not so hot.”

While the possibility that the market bottoms out soon is comforting, the short-term outlook is “awful” as Trump’s tariff policies continue to vex investors, Cramer said.

Neither China nor Trump seem like they’ll blink on tariff negotiations, leaving companies like Apple stuck with unrealistic demands to move manufacturing to the U.S., Cramer said. Apple saw its shares drop nearly 5% today and ceded the title of most valuable company to Microsoft.

The fact that Apple stock initially jumped on Tuesday morning before turning sharply lower shows that the market is “just plain stupid” right now, Cramer said.

“This market just keeps getting overridden by events, all driven by the White House. Investors won’t feel confident again until the pace slows and there’s more thought to the actions taken,” Cramer said.

Neither Apple nor the White House immediately responded to a CNBC request for comment.

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Apple.