CNBC's Jim Cramer on Tuesday suggested that the market is being brought down by some companies with business in China.
"If you own stock in a company that expanded heavily into China, it's being killed right now," he said.
But he said companies that rely on China for growth are having a particularly tough time on the market.
He listed several companies whose business in China is lagging, including Procter & Gamble , Estee Lauder , Nike and Starbucks .
According to Cramer, a reason smaller cap stocks are doing well is because, for the most part, they don't do a lot of business with China.
Persons:
CNBC's Jim Cramer, it's, That's, Cramer, doesn't, Estee Lauder
Organizations:
Procter & Gamble, Nike, Starbucks, U.S
Locations:
China