The world economy is in a major crisis. The United States, China and European stock markets collapsed into a free fall starting last week. A bloodbath of low oil prices, China’s economic downturn and plunges in U.S. stock have triggered a global market panic.

There are many factors that have contributed the global market panic. China has been one driving force in the colossal wreck of the stock market this week, which is the world’s second largest economy. China’s stock market is in free fall in a similar way to how the U.S stock market crashed in 1929. Many fear that the slow growth of China’s economy will bleed over into other countries. For example, just last week, the Shanghai Composite Index plunged 11.5 percent.⁽¹⁾

Oil prices plummet

Oil is on the decline as well. For the first time since 2009, oil prices plummeted below $40 a barrel on the New York Mercantile Exchange, listing a weekly decline of 6.2 percent. The price of oil for West Texas Intermediate for October dropped to $39.86 a barrel.⁽¹⁾

The currency of developed countries that rely on commodity exports, like Russia, were impacted by the decline in oil prices as well. Russia’s ruble continued to fall as crude oil prices plummeted to their lowest depths since the Great Depression.

The Dow Jones Industrial Average has been doing poor as well. The index plunged 531 points on Friday, or 3.1 percent, followed by another 1,000 point plunge on Monday before rising slightly to finish with another 588 point loss. It’s on a path toward its worst week since November 2011, during the eurozone debt crisis. The S&P 500 also dipped below 200-day trend on Thursday and turned negative for the year. The S&P lost about $1.1 trillion that week, making it the worst week since November 2011 as well.⁽¹⁾

The FTSE 100 Index also fell victim to China’s economic turmoil. This is because many fear that China’s slow-growing economy may make the country import less raw material. These worries contributed to pulling the UK benchmark into correction territory.⁽¹⁾

Stock market crash hits Europe

The stock market crash did not let Europe slip through its cold, dead fingers. Europe’s benchmark stock index, the Stoxx Europe 600 index, fell into correction territory Friday as well. China’s feeble Purchasing Mangers Index reading resuscitated fear about the growth prospects for the country’s economy.⁽¹⁾

Gold isn’t in as much trouble as other assets. Gold prices had a weekly advance of 4.8 percent, making it the best week since January. Nevertheless, analysts have yet to be persuaded that gold is the 180 that investors have been hoping for.⁽¹⁾

Furthermore, burgeoning market currencies traded lower against the dollar because of a weakened yuan, plummeting commodities and discouraging production data stemming from China.

The mainstream media has failed to report on the impending global economic collapse that is now ensuing. Nevertheless, Mike Adams, the health ranger, predicted the collapse well in advance:
“When the next great crash comes — which could happen as early as the Fall of 2015 — it will multiply and accelerate precisely because of these little-understood systemic risks which underlie almost every financial instrument, currency position and banking institution on the planet,” Adams said.⁽²⁾

To learn more about the current stock market crash, visit MarketCrash.news, powered by FETCH.news. Also, be sure to watch Mike’s Adams mini-documentary that explains the risk of the stock market collapse, which can be viewed here:

Sources include:

(1) MarketWatch.com

(2) NaturalNews.com