Ole Miss campus sign. (File)

JACKSON, Miss. (November 7, 2012)--A protest at the University of Mississippi against the re-election of President Barack Obama grew into a crowd of about 400 students, some of whom shouted racial slurs as rumors of a riot spread on social media.

Two arrests were reported, but university officials said there were no injuries or property damage Tuesday night.

A university spokesman said the gathering began after midnight, as 30 to 40 students protested Obama's re-election, but quickly grew.

Rumors exploded on Twitter after student journalists posted a video calling the gathering a riot.

Chancellor Dan Jones condemned the disturbance, saying most students and faculty are "ashamed" of the actions of a few.

The university recently has held several events this year to mark the 50th anniversary of the enrollment of its first black student, James Meredith.