Worldwide indexes dropped Tuesday with the major European benchmarks down 3 to 4 percent and the S&P 500 down almost 2 percent. It seems the focus has turned from worry about a Federal Reserve interest rate increase to a very real concern that the globe is heading toward a protracted slowdown.
It started with the Asian Development Bank cutting its economic forecast for the region due to weaker trends in China and India. The ADB revised lower its gross domestic product growth estimates to 5.8 percent from 6.3 percent for 2015 and to 6.0 percent from 6.3 percent for 2016.
And then Credit Suisse added fuel to the negative sentiment by slashing numbers in the mining sector.
"We have cut China demand assumptions, commodity prices and earnings estimates heavily across the board," wrote Liam Fitzpatrick of Credit Suisse in a note to clients Tuesday morning. He added, "Until China demand and emerging market currencies find a floor, it will remain challenging to put an absolute floor on commodity prices."
But the biggest "tell" of them all may be copper. The barometer of global economic health is down 6 percent in three days.
CNBC Pro asked some market experts, as well as ran some quantitative analysis, in order find which securities have the most to lose and the most to gain from a global meltdown.