"Mad Money" host Jim Cramer breaks down Wednesday's trading day and told investors there is likely to be more volatility ahead. But Cramer recommended buying large tech stocks like Microsoft if it pulls back further while adding dividend-yielding stocks like PepsiCo to portfolios. Subscribe to CNBC PRO for access to investor and analyst insights: https://cnb.cx/2Vtntx6

Despite the persistent selling in September, CNBC’s Jim Cramer said Wednesday there continue to be areas of the stock market where investors should look to put cash to work.

In particular, the “Mad Money” host said large-cap tech names such as Amazon, Apple, Alphabet and Microsoft are close to levels that represent buying opportunities, while stocks with solid dividend payments such as General Mills and Johnson & Johnson are worth adding to portfolios now.

“But when it comes to anything else, you have to be patient,” Cramer said Wednesday, which was another down day for Wall Street.

The Dow Jones Industrial Average gave up 525 points, or 1.9%, while the benchmark S&P 500 retreated by 2.4%. In a session filled with technology declines, the Nasdaq Composite fell by 3%. The pullback added to what has been a tough month. The 30-stock Dow has fallen 5.9% in September, the least of the major U.S. equity indexes. The Nasdaq has given up 9.7% while the S&P 500 is down 7.5%.

Cramer said he expects the market to remain volatile “until more of those overly bullish new investors throw in any towel that they may be holding,” referring to the new cadre of people who began buying stocks during the coronavirus pandemic and took part in Wall Street’s massive rally. From its late March virus-era bottom to its Sept. 2 record high, the S&P 500 rose more than 60%.

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