According to Jim Cramer, CNBC’s Jim Cramer, Friday’s steep decline in stocks was not due to concerns about a new Covid-19 version.

“We will wake up next Monday and search for one.” [case]In this country, I don’t think anyone should buy anything right now. It won’t happen, but I don’t know for sure,” he stated Friday during CNBC’s Squawk on The Street.

“No panic. Don’t panic. He said, “We will profit Monday.”

Dow Jones Industrial Average dropped 800 pointsThe opening bell was rung for a 2% loss. The S&P 500 declined about 1.3%. This sell-off occurred after the World Health Organization warned on Thursday that a new variant had been identified in South Africa.

Cramer stated that this makes sense when names are like RegeneronAnd PfizerTo move higher but to avoid other parts of the market

“I am reluctant to suggest that now is the best time to purchase a retailer or cruise company, because people will be much more fear-averse than us and then refuse believe that scientists can manage this. This makes it not an opportunity to buy,” he stated.

Cramer stated that some market areas, such as Chevron, could still be sold off.

His comment was that “if I were forced to buy something right now, Chevron would be my first choice.” He said that there is oil demand, and travel will continue to be a major concern. “I am trying to discern between what I worry about, and what others are doing the exact same day, where they may decide to stop taking it anymore. “I would rather purchase from people like them on Monday than buy from them now,” he stated.

Cramer stated that Amazon is likely to do well Friday. Stock gained 1% after the opening bell.

Some others, however, believe that Friday’s dip represents a buying opportunity.

“Friday is the Friday after Thanksgiving. There are likely not as many traders at the desks today due to an early close. On CNBC’s “Squawk Box,” Ajene Olson of BNY Mellon Investor Solutions stated that potentially less liquidity was causing the pullback. But the investors should see this as a buy opportunity. “We must think for the long term.”

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Reporting by Jesse Pound, CNBC.