A.T. Robertson Commentary Revelation 18:16

"saying, Woe, woe, the great city, she that was arrayed in fine linen and purple and scarlet, and decked with gold and precious stone and pearl!" — Revelation 18:16 (ASV)

For the Woe see verses 10,19. For the next clause see 17:4 with the addition here of βυσσινον (18:12).

For in one hour so great riches is made desolate (οτ μια ωρα ηρημωθη ο τοσουτος πλουτος). The reason (οτ) for the "woe." First aorist passive indicative of ερημοω, for which verb see 17:16; 18:19. This is the dirge of the merchants.