<div id="readability-page-1">Cramer's stark warning: Cramer says today's market is more dangerous than 1999 due to concentrated gains in AI leaders and harsh sell-offs for other sectors. Valuations near records: The S&amp;P 500's CAPE ratio is around 40, far above its historical average, a level that has often preceded major market declines. Macro risks mount: Inflation is projected to hit 6% in Q2 amid oil supply shocks, while technical indicators show markets are overstretched.</div>

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<p>Cramer warns that the current market is riskier than in 1999, citing concentrated gains in AI stocks and significant sell-offs in other sectors. The S&P 500's CAPE ratio is around 40, indicating potential for major declines. Additionally, inflation is expected to reach 6% in Q2 due to oil supply shocks, with technical indicators suggesting an overstretched market.</p>

- Cramer warns that the current market is more perilous than in 1999, citing concentrated gains in AI stocks coupled with sell-offs in other sectors.  
- The S&P 500's CAPE ratio is at approximately 40, significantly higher than its historical average, indicating potential for major declines.  
- Additionally, inflation is expected to rise to 6% in Q2 due to oil supply shocks, with technical indicators suggesting that markets are currently overstretched.

Cramer warns AI-driven rally poses greater risk than 1999