Full Idea
Nihilism appears now …because one interpretation collapsed; because it was deemed the interpretation, it seems as if there is utterly no meaning in existence, as if everything is in vain.
Gist of Idea
We have nihilism now, because what seems the only possible interpretation has collapsed
Source
Friedrich Nietzsche (Fragments from 1886-87 (v 17) [1887], 5[071].4)
A Reaction
One can imagine such a feeling in German Nazis in 1945, or Russian communists in 1989. Collapses are quick, but rebuildings are very slow.
Book Reference
Nietzsche,Friedrich: 'Fragments from 1886-87 (v 17)', ed/tr. Leiner, George H. [Stanford 2025], p.28