Stocks and Standard & Poor’s Downgrade: Twitter Takes to Task

The current drops in the stock market are of course a big worry to many people but it seems that Twitter users know exactly who is at fault and have taken Standard & Poor’s to task. Yesterday the stock market took a big hit with NASDAQ and Dow Jones falling between 5 and 7% and Twitter reactions told a story.

Twitter was agog yesterday with people talking about the stock market dive and most of them seemed to be blaming S&P. Tweets that were analyzed by NM Incite, a Nielsen and McKinsey social research service, found a huge amount of negativity on the issue with “almost half of all messages expressing concern for the economy or fault-finding,” according to Jennifer Van Grove over on Mashable.

The analysis found that only 5% of tweets about the stock plunge were positive, with 38% remaining neutral, 10% feeling mixed about it and a whopping 47% expressing negativity about it. When talking about who was to blame for the stock market dive 38% put the blame fairly and squarely on S&P, finding the market intelligence company at fault for the stocks drop after it downgraded the credit rating of the U.S.A. on Friday from AAA to AA+. A further 5% blamed Congress, 4% laid the fault at President Obama’s door, 4% blamed a political party, 3% ECB buying and 1% managed to blame the rich.

When looking at general reactions to the stock market plunge it seems that 19% managed to keep a sense of humor despite the severity of the matter, 15% had questions and were confused, 10% were remaining optimistic, while 3% were unsurprised. Figures were also given from the analysis about stock advice with 5% saying to sell, 3% to buy while 1% advised holding.

Meanwhile Sarah Palin was one of those blaming President Obama for the credit downgrade by S&P. Palin used Facebook to say, “I’m surprised that so many people seem surprised by S&P’s decision. Weren’t people paying attention over the last year or so when we were getting warning after warning from various credit rating agencies that this was coming? I’ve been writing and speaking about it myself for quite some time,” according to an article on The State Column.

We’d be interested to know if you used social media to discuss the stock market dive and if the general feeling you met online broadly tallies with these findings so do let us have your comments on this.