(TRUNEWS) In a fall not seen in the global stock markets since 2008, every market in the world experienced major volatility on Friday.

At the time of this report, the Dow Jones Industrial average has sunk 392 points, dropping almost 9% in one month. European stocks faired no better, and at close fell into a bear market, a market in which prices are falling, encouraging selling.

Asia was the first market of the day to feel the economic wave of chaos, as the Shanghai Composite Index closed 3.55% down, wiping out all gains from last weeks state-run stimulus campaign, and dropping a total of 609.32 points in the last month alone.

Rick Wiles reported on TRUNEWS yesterday that rail activity around the country has ground to a screeching halt, joining shipping activity, which saw almost no cargo ship traffic between China, America and Europe all of this past week.

By all metrics, the world is entering a major economic slow down. This problem is only fueled further by an exuberant glut in the global supply of oil, which with the news of Iran increasing their daily production, has now once again fallen under $30 a barrel in index trading.

Batten down the hatches, 2016 is shaping up to be a game changing year for economies around the globe.

https://youtu.be/auc5NEVuLF8