Stock market indices suffered a bloodbath on Monday, August 5, as Sensex crashed by 3% and Nifty dropped by 2%. The market cap across the listed companies on the BSE plunged by Rs 10.24 lakh crores from Rs 457 lakh crore to Rs 446.92 crore. This comes after reports of recession clouds over the US, which led to a huge sell-off at the Wall Street market on Monday.
Billionaire Warren Buffet has liquidated stocks worth $277 billion in cash, as his organization Berkshire Hathaway has historically dumped more shares this quarter. Meanwhile, the Japanese stock market recorded its worst losses since 1987. South Korean and Australian stock markets also dipped by about 6%.
Also Read | Cryptocurrency Market Update: Bitcoin Price Drops to $50,000; Over $1 Billion Liquidated in Past 24 Hours.
Major tech companies NVIDIA, Alphabet/Google, Apple, Meta, Tesla, Amazon, and Microsoft were hit today. Taiwan's stock market suffered its worst day in 57 years. The global stock market crash was also plausibly triggered by tension in the Middle East, with looming fears of imminent World War III.
In the midst of this bloodbath, the mems army finds jokes, offering a lighthearted distraction on social media, including X (formerly Twitter), reminding everyone that they’re not alone in weathering the market’s turbulent storms.
Check Funny Memes and Jokes Here:
Also Read | Nikkei Stock Index in Japan Drops Over 4,000 Points, Largest Decline in History.
Even the cryptocurrency market is not left behind, as Bitcoin has had a rough showing since the weekend, falling below $60,000 yesterday and now under $50,000 on Monday. Ether is also down a whopping 16% today to $2,239 currently - also its lowest since February.