Coronavirus has caused bears to take control of equity markets around the world. The Indian market too saw a bloodbath with BSE Sensex shedding 1,448.37 points and the Nifty losing over 431.50 points. The heavy selling, however, was best described by billionaire Anand Mahindra on Twitter.
Mahindra group’s Chairman Anand Mahindra posted a tweet saying:
“Time to coin a new phrase. When markets panic over a pandemic is it a ‘panicdemic?’”
The tweet got over a thousand likes within an hour and saw over 100 retweets.
Mahindra's comments came after stock investors lost over Rs 4 lakh crore just as the market opened February 28.
The spread of coronavirus in countries like South Korea and Iran has left a sense of fear among markets around the world. In a briefing on February 27, the World Health Organisation informed that in the past two days the number of new cases reported in the rest of the world has exceeded the number of new cases in China.
Other recent tweets by the business tycoon have also been a hit on Twitter.
His February 26 tweet about a school kid’s dance during Melania Trump’s visit at a government school got over 7,500 retweets and over 40,000 likes.
Not very long ago Mahindra praised Indore city’s cleanliness and the tweet got over 30,000 likes and over 4,500 retweets.
Earlier, in December 2019, Mahindra recalled his meeting with Bill Gates in 1997 and how he ‘had a grudge against Gates'.
Also Read: Why did Anand Mahindra hold a grudge against Bill Gates for over two decades?
With close to 7.5 mn followers on Twitter, Anand Mahindra, currently the Executive Chairman of the Mahindra group, will assume a non-executive Chairman’s post in the Mahindra group after November 11, 2021.