UFO (abbreviation): UnFortunate Occurrence
This term has recently become the new standard for casually describing incidents involving bad luck (screw-ups).
The Urdu/Hindi equivalent of this term (KKG) has been in use for years now. The meaning of KKG will not be mentioned here due to its strong language content.
“I got married to the love of my life today. And then I widowed myself with a box of chocolates. Turns out my late wife was allergic to peanuts. This was all a big damned UFO!”