catastrophic / end of the world
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catastrophic
Colloquial and exaggerating in predicative use: catastrophic, disastrous, or matching an apocalyptic mood.
Die Stimmung in der Kabine nach der hohen Niederlage war einfach nur Weltuntergang.
The mood in the locker room after the heavy defeat was simply catastrophic.
The word is actually the noun 'der Weltuntergang' (the end of the world), made up of 'Welt' (world) and 'Untergang' (downfall / destruction). Literally, it describes the end of the world. In this special use, the noun is used like an adjective to describe an extremely negative, catastrophic mood.
Nach der Absage des Konzerts war die Stimmung unter den Fans Weltuntergang.
After the concert was canceled, the mood among the fans was catastrophic.
In this colloquial meaning, 'Weltuntergang' (catastrophic / the end of the world) is used only predicatively, that is, after verbs like 'sein' (to be) or 'wirken' (to seem). It is not declined and cannot stand before a noun.
Für ihn war die Prüfung nicht bestanden? Das ist doch nicht gleich Weltuntergang!
For him, failing the exam? That's not immediately the end of the world!
This use is strongly colloquial and has an exaggerating, often ironic character. It is used to portray a situation as much more dramatic than it really is.
Keine Sorge, ein kleiner Kratzer am Auto ist doch kein Weltuntergang.
Don't worry, a small scratch on the car is not the end of the world.
bad / serious
'schlimm' and 'Weltuntergang' can both express that something seems very negative. 'Schlimm' is a normal adjective and fits unpleasant situations, serious problems, or injuries. 'Weltuntergang' is used colloquially and exaggeratingly, often in sentences like 'Das ist kein Weltuntergang' (It's not the end of the world). This means: It is annoying, but not that catastrophic. So 'schlimm' directly describes the situation, while 'Weltuntergang' makes the judgment stronger and often somewhat dramatic.
Eine schlechte Note ist ärgerlich, aber kein Weltuntergang.
A bad grade is annoying, but it is not the end of the world.
Der Unfall war schlimm, aber zum Glück wurde niemand schwer verletzt.
The accident was bad, but fortunately no one was seriously injured.