'Orange Monday' trends online as Trump tariffs trigger market freefall

Global markets crashed as Trump's tariffs sparked 'Black Monday' fears, flooding social media with 'Orange Monday' memes. Markets say Orange is the New Black Monday

Social media platform X was flooded with ‘Orange Monday’ memes, following a broad day selloff in global equities, triggered by President Donald Trump’s reciprocal tariffs on US trading partners. This fuelled the reminiscence of the infamous 1987 ‘Black Monday’.  Despite the escalating concerns, the White House appeared firm on moving ahead with its broad tariff strategy. 

  On Sunday night, US stock futures took a sharp downturn. According to The Wall Street Journal, Dow Jones Industrial Average futures had plunged more than 1,700 points by 6 pm. Monday saw further tremors across Asian markets — Japan’s Nikkei dropped nearly 9 per cent, China’s CSI300 fell 4.5 per cent, and Hong Kong’s Hang Seng Index slid 8 per cent, with tech giants Alibaba and Tencent each losing over 8 per cent. Markets in Singapore and Australia were also hit hard, with the latter’s S&P/ASX 200 falling 6.07 per cent at the opening bell. South Korea’s Kospi and Kosdaq declined by 4.34 per cent, and 3.48 per cent respectively. 

 

  On Saturday, CNBC host and market analyst Jim Cramer sounded the alarm about the possibility of a crash akin to the infamous 1987 market collapse. “If the president doesn’t try to reach out and reward these countries and companies that play by the rules, then the 1987 scenario … the one where we went down three days and then down 22 percent on Monday, has the most cogency,” Cramer said during his show.

 

X flooded with memes

As markets showed signs of strain, social media users responded with a mix of humour and concern, coining the term ‘Orange Monday’. A user on X mentioned: “Trust Trump? It’s Black Monday aka Orange Monday. Our 401k is about to get squeezed!”

 

“I just want to put this out there – if tomorrow is another Black Monday (and it looks very much like it will be) I say we call it ‘Orange Monday’,” another user wrote.

 

I just want to put this out there - if tomorrow is another Black Monday (and it looks very much like it will be) I say we call it "Orange Monday".  Capish? pic.twitter.com/TgXWEv7EiG

— PaulleyTicks (@PaulleyTicks) April 6, 2025

An X user shared an edited image featuring Donald Trump with the label ‘Orange Monday’. “Tomorrow might go down in history as Orange Monday,” the caption read.

Tomorrow might go down in history as Orange Monday. Donald Trump pic.twitter.com/1l4EtUP1av

— TROLLON MUSK (@trollberry) April 6, 2025

“They’re saying Orange is the New Black Monday,” another post quipped. 

they're saying Orange is the New Black Monday ???????? pic.twitter.com/7OS84B4pe9

— Danielle Fong ???? (@DanielleFong) April 6, 2025

Trump’s tariffs policy

On April 2, Trump announced a sweeping reciprocal tariffs policy aimed at addressing the United States’ trade deficit. These tariffs, described as a “declaration of economic independence”, include a universal baseline tariff of 10 per cent on all imports starting April 5, alongside country-specific duties that will take effect on April 9. The reciprocal tariffs are calculated based on the trade barriers imposed by other nations, including monetary and non-monetary factors such as subsidies, currency manipulation, and intellectual property theft. 

Trump imposed a flat 26 per cent tariff on all Indian exports. This rate was calculated based on India’s cumulative trade barriers, which Trump claimed amounted to a 52 per cent tariff on US goods. Trump framed these tariffs as a move toward revitalising domestic manufacturing and reducing the national debt through increased customs revenue. 

However, the announcement triggered immediate global backlash, with countries like Canada and China imposing retaliatory tariffs. Economists warn that these measures could lead to a recession in the US, while also straining relations with major trading partners like India.