Dubai: There was a “blood bath” on global stock markets on Monday, according to social media users reacting to markets plunging deep into the red.
Analysts and many in the media had been quick to call it “Black Monday”, which did not take long to gain traction on social media. And as the Dow Jones index lost 1,000 points shortly after opening bell, social media went into a flurry.
“Woke up to a blood bath this morning. Did not expect it to be this bad this fast. Should have slept in. #BlackMonday,” tweeted @DeuceontheClock shortly after the Dow Jones opened.
Monday’s rout had been expected after US crude dropped under $40 (Dh146.8) a barrel and European and US stocks fell as much as 3 per cent on Friday amid concerns over the Chinese economy.
The Black Monday hashtag (#BlackMonday) was trending worldwide on Twitter at 6:30pm local time, including in the United States, United Kingdom, Saudi Arabia, Germany and Russia. “Dow Jones” was also trending worldwide on Twitter.
“Blood bath on every working capital market … Black Monday?,” tweeted @okdaR.
Blood bath on every working capital market @CapitalBg @AMZN Black Monday? — Radko Krastanov (@okdaR) August 24, 2015
“#blackmonday what a bloody day,” tweeted areefsen.
“Markets are all over the place, cheers China #BlackMonday,” tweeted @WillPruce.
markets are all over the place, cheers China #BlackMonday— William Pruce (@WillPruce) August 24, 2015
In India, #Sensex, a reference to the Bombay Stock Exchange, and Wall Street were also trending.
Amongst the news stories popping up over social media, users started asking what caused markets to plummet on Monday.
“Another Black Monday Blood Bath every where. Is it because of China???????????????,” tweeted @esstee2.
“#BlackMonday China or oil or both? #the Cause,” tweeted @MikeCastelli92
The Black Monday hashtag also gained traction on photo sharing mobile application Instagram. More than 17,800 photos were posted on the application using the hashtag as of 6:30pm local time on Monday.
Other social media users made efforts to detract from comments that global markets were collapsing, despite many markets recording their worsts losses since the start of the year.
“I’d say the most important thing to do right now is panic. #Sarcasm #BlackMonday,” tweeted @TrevRonholm
“Let’s dial back some of the #Black Monday hype folks. No need to go bury your money in the backyard,” tweeted PACB_Tim.
