Black Monday: The United States of the US President Donald Trump on most imports into the country has hardly hit global markets. What is called “Black Monday 2.0”, stock markets and cryptocurrencies crashed spectacularly. However, social media users use their best alignment tool – memes.
What is black Monday?
Last week, Donald Trump announced mutual tariffs on 180 countries, which intensified the global stock market. The US markets carried the onslaught of sales because concerns deployed that higher duties could hurt the US economies more than others and potentially push the country into recession.
So why concerns about Black Monday 2.0? October 19, 1987, markets around the world crashed, while the industrial average of the US Dow Jones plunged into 22.6 %-the most large-day one-day percentage loss in history. This event launched a decline in the global stock market and strengthened Black Monday as one of the most famous days in financial history. The S&P 500 has experienced an even steeper drop and dropped by 30 percent on the same day.
Mashem continued throughout the month, and at the beginning of November 1987, most major stock market indices lost more than 20% of its value.
Why concerns about Black Monday 2.0?
More currently, American television personality and market analyst, Jim Cramer, 6th April warned that a similar “blood substance” awaits April 7, Monday. He accused the tariff anger of Donald Trump for frightening global markets and encouraged the sweat to “address” and take steps to avoid significant damage.
Overall, experts warned against Black Monday 2.0 after the US stock markets witnessed their worst trading sessions and the largest decline from the global Covid-19 pandemic, on Friday, April 4. More than $ 5 trillion was deleted outside of market capitalization and the key benchmarks carried serious losses.
April 6, Sunday, Dow Jones Futures fell by 1 405 points (3.7%) signaling the potential “black Monday”. Futures S&P 500 dropped by 4.3% and Futures Nasdaq-100 dropped by 5.4% when investors sold former technology stars to get cash.
In particular, all Asian markets have already been opened in red 7 April. The London Stock Exchange looks ready for a similar way and fear that will follow American indices.
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