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Market crash: Netizens share memes to cope with the mayhem 

Market crash: Netizens share memes to cope with the mayhem 

Share market crash: Soon after this became viral, netizens took this opportunity to share choicest memes. From reminiscing Shark Tank India judges Boat founder and CMO Aman Gupta to Former BharatPe MD Ashneer Grover, here’s how the Internet reacted

As a result of this mayhem at the Dalal Street, wealth of investors declined by Rs 5.12 lakh crore to Rs 254.52 lakh crore today versus Rs 259.64 lakh crore in the previous session As a result of this mayhem at the Dalal Street, wealth of investors declined by Rs 5.12 lakh crore to Rs 254.52 lakh crore today versus Rs 259.64 lakh crore in the previous session

There is an absolute bloodbath both at the Dalal Street as well as in the international markets. BSE and NSE traded in red as Sensex is down 1,000 points whereas Nifty has tanked below 16,400 points as of now. All 30 Sensex stocks were trading in the red in early trade and the market breadth was negative with 383 shares trading higher against 2,139 stocks falling in the red. 67 shares remained unchanged.

As a result of this mayhem at the Dalal Street, wealth of investors declined by Rs 5.12 lakh crore to Rs 254.52 lakh crore today versus Rs 259.64 lakh crore in the previous session. Globally, US stocks ended lower amid a broad sell-off on adverse investor sentiment due to the US Federal Reserve’s interest rate hike by 50 basis points.

While Dow Jones Industrial Average logged its worst performance since 2020, Nasdaq posted highest one-day percentage decline since June 2020 and lowest finish since November 2020. S&P 500, on the other hand, lost 3.56 per cent to 4,146.87 and only 19 of the S&P 500 stocks closed in positive territory.

Big Tech stocks – Google’s parent Alphabet, Apple, Microsoft, Meta Platforms, Tesla and Amazon.com fell between 4.3 per cent and 8.3 per cent. Asian shares also tumbled on the FED’s hawkish stance vis-à-vis interest rate hike.

MSCI’s broadcast index of Asia-Pacific shares outside Japan shed 2.34 per cent per cent today morning and was down 3.5 per cent from last Friday’s close. Nikkei was flat on its return from a 3-day holiday and Chinese blue chips fell 2 per cent on Friday and Hong Kong benchmark shed 2.44 per cent. Chinese yuan tumbled to an 18-month low of 6.7388 per dollar.

Soon after this became viral, netizens took this opportunity to share choicest memes. From reminiscing Shark Tank India judges Boat founder and CMO Aman Gupta to Former BharatPe MD Ashneer Grover, here’s how the Internet reacted

Top losers in today’s domestic market crash

On the sectoral front, consumer durables and IT stocks as their BSE indices dropped 1,041 points and 749 points respectively. Top five losers included Bajaj Finance, Bajaj Finserv, Hindustan Unilever (HUL), Maruti Suzuki and Wipro.

Also read: Wall St update: Dow logs worst daily performance in 2 yrs, Nasdaq falls 4.99%

Also read: Asian shares fall after Dow, Nasdaq plummet over US Fed rate hike 

Also read: Investors lose Rs 5 lakh crore in market crash: Here's a look at top Sensex losers

Also read: Zomato shares at all-time low; slips below issue price

Published on: May 06, 2022, 11:15 AM IST
Posted by: Mehak Agarwal, May 06, 2022, 11:07 AM IST