Was Aug. 24, when the stock markets closed in a correction and the Dow Jones industrial average had its worst point drop since 2008, really “Black Monday,” as the trending hashtag suggested?
“Not even close,” advisor Blair duQuesnay tweeted. “Stop being irresponsible.”
But the Twitterati never let a crisis go to waste, whether trying to drive clicks to scaremongering news articles or attempting to be voices of reason.
It remains to be seen whether the stock market will ultimately recover its recent losses, or if this is the beginning of The Big One that, as Josh Brown put it, will separate “the men from the boys, the ladies from the girls.” But it appears that, this time around, retail investors were the adults in the room.
“Mom and Pop outwitting high-frequency traders; hedge funds being beaten by Main Street. It’s enough to give a long-term investor some hope for the future of finance,” Barry Ritholtz wrote in a blog post.
Elsewhere on Twitter, Bloomberg View columnist Noah Smith gave some depressing economic advice, Brown taunted sinking commodities, and Bloomberg Businessweek’s Suzanne Woolley ponders some fragrances best left unsmelled.
On General Economic Topics:
Gold and Oil sitting in a tree F. A. L. L. I. N. G.
— Downtown Josh Brown (@ReformedBroker) August 5, 2015
The Pope is a terrible economist but, in his defense, let’s acknowledge economists would be terrible Popes http://t.co/gLbVaatvtL
— William Easterly (@bill_easterly) August 24, 2015
All celebs have them. So why not signature perfumes from politicians, businessmen? Just updated w/Trump’s ‘Hubrique’ pic.twitter.com/eyvfqCBILn