CNBC's Jim Cramer commented on the current situation of the market, CNBC reported. The "Mad Money" host said that the market threw a "curveball" as investors moved away from reliable defensive stocks, even as Wall Street had received word that the global economy was sliding. BASF, the German chemical manufacturer, showed just how companies had adjusted to the global economic condition.

BASF is also connected to the semiconductor and auto industries, as well as the pesticides and consumer products sector. It revealed on Monday how it needed to cut down on its full-year earnings forecast by 30%. Asked about this development, they said that low crop and car sales were to blame, not to mention the current trade situation between the US and China.

Cramer said that the dim outlook in trade and economy was a "very big deal." He said that even though the Federal Reserve continues to hold a bullish outlook on the economy just because of a "terrific labor report," there is a very real concern to be worried about the future of the economy. He used BASF's weak forecast as enough evidence that there is something wrong globally.

However, a positive sign would be the US and China talking again. Bloomberg reported that the two nations gave good indications that they're ready to discuss a truce on trade if they're not ready to enter a deal yet. This is as encouraging as it can get in this trade dispute, where each side has slapped tariffs and even destructive sanctions on each other.

It needs to happen and soon because the global economy will be better for it. The imposition of these tariffs have flowed through into different sectors of the economy worldwide and global trade and manufacturing data were hit the hardest.

The slow growth, when combined with what has been the trend for so long, didn't look good for the global trade industry, leading to loss of confidence in business strategies, as well as company CEOs.

Cybersecurity and payment processing seems like they've got a boost with the loss of other economies, however. Companies like PayPal and the Palo Alto Network surged forth.

However, as long as trade disputes are still in place and the economy is also in a downward spiral, it doesn't look like there is much to expect about the forthcoming state of the world economy under this current trend.