Shah Shatranj
Chief Minister (5k+ posts)
People are freaking out about 'Black Monday'
Wall Street has crashed after China had the worst stock trading day in eight years, and people on Twitter are very worried about the situation
Pedestrians look at a display showing closing information of Tokyo's Nikkei Stock Average in Tokyo Photo: EPA/KIMIMASA MAYAMA
People have been panicking today as the world's second largest economyexperienced a massive slump.
The US stocks have now crashed, we don't know exactly how it's going to affect us, and as with any major event, people on Twitter have been sounding off about what has now been dubbed #BlackMonday.
People think we are all going to literally die
A few think #BlackMonday is about the One Direction hiatus announcement:
Some are preparing for the apocalypse:
Others are more chilled about the situation:
However, one brave man has found a solution:
One thinks he has found the culprit:
And, of course, some people have found the funny side:
Fair enough. If we're going to lose all of our money, we may as well try and get a few retweets out of it.
Black Monday: Wall Street plummets 1000 points at opening bell
Carlo Allegri / Reuters
At the opening bell on Wall Street the Dow Jones Industrial Average plummeted as much as 1,000 points in the first minutes of trading. Later it corrected to 485 points down or around three percent. The Nasdaq dropped eight percent at the start of trading, but is now down three percent. The S&P 500 had initially sunk five percent and is now down three percent.
The grim data was predictable, as before the opening the Nasdaq 100 Index contract dropped 5 percent reaching its daily loss limit. Companies like Apple and Netflix also suffered from a massive sell-off, sinking at least 5.7 percent amid the panic triggered by Chinese stock markets collapse.
Dow futures plummeting more than 800 points has allowed The New York Stock Exchange to apply Rule 48 for the Monday stock market open, according to Dow Jones.
The rule was last invoked during the financial crisis, and allows the NYSE to open stocks without indication. "It was set up for situations like this," Art Hogan, chief market strategist at Wunderich Securities told CNBC.
The Dow Jones Industrial Average dropped 1000 points or 6%, to 15,441.
The collapse in the US markets was triggered by China where a brutal sell-off saw indexes down 8.5 percent on Monday. Beijings failure created a domino effect dragging down markets around the world.
"Until we have some sign that China and the emerging markets aren't being sucked into some vortex from which they can't recover ... it is unlikely this sell-off will stem," Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia told Reuters.
London's FTSE is trading 4.93 percent down; faring worse are the Frankfurt DAX is down 6.16 percent, and the CAC 40 in Paris, in the red by 7.59 percent, as of 14:06 GMT.
Market turmoil has also had in impact on commodity prices. Brent crude briefly dipped below $43 per barrel falling to $42.57 at 13:40 GMT, at the opening bell on Wall Street, but is now trading above $43. Meanwhile, the price of gold is on the up, trading 0.28 percent higher at $1,162.80 per troy ounce as investors look for a safe haven. Agriculture commodities are also being dragged down by the market collapse, as orange juice, cotton and lumber have lost more than three percent.
http://www.rt.com/business/313226-wall-street-stock-rout/
Wall Street has crashed after China had the worst stock trading day in eight years, and people on Twitter are very worried about the situation
Pedestrians look at a display showing closing information of Tokyo's Nikkei Stock Average in Tokyo Photo: EPA/KIMIMASA MAYAMA
People have been panicking today as the world's second largest economyexperienced a massive slump.
The US stocks have now crashed, we don't know exactly how it's going to affect us, and as with any major event, people on Twitter have been sounding off about what has now been dubbed #BlackMonday.
People think we are all going to literally die
A few think #BlackMonday is about the One Direction hiatus announcement:
Some are preparing for the apocalypse:
Others are more chilled about the situation:
However, one brave man has found a solution:
One thinks he has found the culprit:
And, of course, some people have found the funny side:
Fair enough. If we're going to lose all of our money, we may as well try and get a few retweets out of it.
Black Monday: Wall Street plummets 1000 points at opening bell
Carlo Allegri / Reuters
At the opening bell on Wall Street the Dow Jones Industrial Average plummeted as much as 1,000 points in the first minutes of trading. Later it corrected to 485 points down or around three percent. The Nasdaq dropped eight percent at the start of trading, but is now down three percent. The S&P 500 had initially sunk five percent and is now down three percent.
The grim data was predictable, as before the opening the Nasdaq 100 Index contract dropped 5 percent reaching its daily loss limit. Companies like Apple and Netflix also suffered from a massive sell-off, sinking at least 5.7 percent amid the panic triggered by Chinese stock markets collapse.
Dow futures plummeting more than 800 points has allowed The New York Stock Exchange to apply Rule 48 for the Monday stock market open, according to Dow Jones.
The rule was last invoked during the financial crisis, and allows the NYSE to open stocks without indication. "It was set up for situations like this," Art Hogan, chief market strategist at Wunderich Securities told CNBC.
The Dow Jones Industrial Average dropped 1000 points or 6%, to 15,441.
The collapse in the US markets was triggered by China where a brutal sell-off saw indexes down 8.5 percent on Monday. Beijings failure created a domino effect dragging down markets around the world.
"Until we have some sign that China and the emerging markets aren't being sucked into some vortex from which they can't recover ... it is unlikely this sell-off will stem," Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia told Reuters.
London's FTSE is trading 4.93 percent down; faring worse are the Frankfurt DAX is down 6.16 percent, and the CAC 40 in Paris, in the red by 7.59 percent, as of 14:06 GMT.
Market turmoil has also had in impact on commodity prices. Brent crude briefly dipped below $43 per barrel falling to $42.57 at 13:40 GMT, at the opening bell on Wall Street, but is now trading above $43. Meanwhile, the price of gold is on the up, trading 0.28 percent higher at $1,162.80 per troy ounce as investors look for a safe haven. Agriculture commodities are also being dragged down by the market collapse, as orange juice, cotton and lumber have lost more than three percent.
http://www.rt.com/business/313226-wall-street-stock-rout/
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