Jeff Sika, CEO of Circle Squared Alternative Investments, commented on the market sell-off, arguing that the problem lies in the credit markets.
Ominous messages trended on social media on Monday amid widespread sell-off in markets around the world and fears that a combination of economic and geopolitical uncertainty could lead to difficult times.
The hashtag “#BlackMonday” trended on social media platform X after Japanese stocks recorded their biggest one-day drop since Black Monday on October 19, 1987, when the Dow Jones Industrial Average plummeted 22%, marking the beginning of a global stock market decline.
A broad sell-off in global stock markets, combined with unrest in the Middle East, led to a series of ominous trending topics on X on Monday. (Budrul Chukrut/SOPA Images/LightRocket via Getty Images)
The market crash intensified throughout the morning, spreading across Europe and the US, and the words “Dow” and “Great Depression” began trending on sites.
Stuart Varney: When will the stock market sell-off stop?
Terminology related to the Biden-Harris administration has also taken hold, with #KamalaCrash becoming a top hashtag, apparently a reference to Vice President Harris, the Democratic presidential nominee.
Vice President Harris speaks at the American Federation of Teachers’ 88th National Convention in Houston on July 25, 2024. “#KamalaCrash” was the top trending hashtag on social media site X on Monday as stock markets around the world crashed. (Montinique Monroe/Getty Images)
“Bidenomics,” the name of the administration’s economic policy, also trended, appearing in more than 50,000 posts.
Biden says he’s “fixed the economy” days before recession fears spark stock selling
But the stock market wasn’t the only thing causing ominous messages to spread in the world of social media.
David Bahnsen, managing partner at Bahnsen Group, weighs in on “Varney & Co.” whether the Federal Reserve is to blame for the market sell-off and what investors should do.
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The term “Middle East” was cited in 156,000 posts. Rising tensions between Israel and Iran The conflict could escalate to a wider region, which led to the term “World War III” trending on X, with over 67,000 posts mentioning the possibility of World War III breaking out.
