#BlackMonday starts trending on Twitter: Stock markets take beating

A trader works on the floor of the New York Stock Exchange on Aug 20, 2015 in New York City.
A trader works on the floor of the New York Stock Exchange on Aug 20, 2015 in New York City.PHOTO: AFP

NEW YORK (BLOOMBERG) - You know it's bad when the massive declines in markets across the globe causes #BlackMonday to start trending on Twitter.

Meanwhile, the slightly less excitable "Stock Markets" began trending on Facebook.

In case you missed it, the US markets got crushed on Friday, ending the week down roughly five per cent. That selloff is continuing this morning with Dow Jones futures pointing to a decline of more than 600 points at the open.

Chinese stocks plunged earlier Monday, sinking the most since 2007 with an 8.5 per cent decline.  All but four shares in the Stoxx Europe 600 Index fell as the gauge deepened its plunge after its worst week in four years. Germany's DAX Index sank more than 3 per cent, down 21 per cent from its peak.