Everyone is talking about it, so we might as well post another chart, just to give some perspective.

Look how much copper has plunged in just the last few days.

From FinViz:

Copper has a reputation for being a good global economic bellweather, so these furious declines are not comforting.

Copper also plays a role in the Chinese financial system (as collateral) so that is a further cause for angst.