Jim Cramer advises "Don't fight the Fed".

$SPDR S&P 500 ETF (SPY.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Invesco QQQ Trust (QQQ.US)$ The stock market is currently in turmoil due to high inflation and measures taken by central banks around the world to curb it. Jim Cramer advises investors to act with extreme caution in this environment, due to high inflation and measures taken by the world's central banks to curb it.

In the fight against hyperinflation, the world's central banks have begun to tighten monetary policy, or at least announced appropriate measures. But while measures have long been expected, interest rate hikes are a concern as well as central banks tightening their balance sheets again and again to spark market turmoil.