Jim Cramer warned that markets might face a bloodbath similar to 1987 - when the Dow Jones suffered its biggest single-day crash to date. He claimed that if the US President didn't 'reach out' to nations which have not imposed retaliatory tariffs and reward them for their compliance, the situation could worsen.

Sounding alarm bells after US President Donald Trump's Liberation Day global tariff plans crushed global stocks, CNBC host Jim Cramer predicted global markets could witness a blood bath that could expand into a crash similar to 1987's "Black Monday."

IMF Managing Director Kristalina Georgieva has expressed serious concerns regarding the potential economic impact of the new tariffs announced by US President Donald Trump, stating that they pose a "significant risk to the global outlook." Speaking on Thursday, Georgieva called for cooperation between the United States and its trade partners to alleviate trade tensions and reduce uncertainty in the market.