Global Meltdown: Investors Are Dumping Nearly Everything

With no solution in sight for Europe and new fears of a global recession, investors dumped stocks and commodities and ran to the safety of U.S. Treasurys.

Treasury yields, as a result, slipped to historic lows with the 10-year yielding 1.75 percent and the 30-year at 2.86 percent.

The dollar was also a beneficiary of a massive fear trade that sent U.S. stocks sharply lower, on the heels of steep sell-offs in equities markets around the globe.

The worst performing stock market sectors mirrored the sell-off in global commodities markets, with materials down 4.6 percent and energy stocks down 4.1 percent.

Copper, hit by concerns of a Chinese slowdown, tumbled 7 percent to a 1-year low. Gold, usually a safety play, was sold into the maelstrom as investors raised cash. The euro [EUR=X 1.3469 -0.0108 (-0.8%) ], broke below 1.35, a recent bottom of its range. It was trading in the 1.346 area, an eight-month low against the dollar. The dollar index [.DXY 78.38 1.04 (+1.34%) ] was 1.4 percent higher.

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 Read More at CNBC By Patti Domm, CNBC