Carl Quintanilla, Jim Cramer and David Faber focused on the markets extending Wednesday's losses into a sell-off, one day after the Fed announced a 50-basis point rate hike and signaled more increases to come as it battles inflation. The Bank of England and the European Central Bank each followed the Fed with similar rate hikes on Thursday. Jim highlights which stocks to buy -- and the ones to avoid -- in this market environment. The anchors also discussed Elon Musk's sale of another $3.6 billion of Tesla shares -- and the company's market cap sliding below $500 billion -- amid investor concerns about Musk's role at Twitter. Also in focus: Retail sales fell sharply in November, What's driving the rally in Chinese shares, plus Cramer explains why he's bullish on Bob Iger upon his return as Disney CEO. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com
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Squawk on the Street