Crude oil tumbled to its weakest levels in 6-1/2 years while industrial metals prices also hit multi-year lows amid a broad sell-off of risky assets. Oil led the downward charge as Brent crude futures LCOc1 fell more than $2 a barrel to their lowest since March 2009.

“Today’s falls are not about oil market fundamentals. It’s all about China,” Carsten Fritsch, senior oil analyst at Commerzbank in Frankfurt, told Reuters Global Oil Forum.

“The fear is of a hard landing and that things get out of the control of the Chinese authorities.”

Brent touched an intraday low of $43.28 a barrel, a fall of 4.7 percent.

In metals, copper CMCU3 and aluminum CMAL3 hit their lowest since 2009 while iron ore and steel futures in China slid sharply to reach their downside limit.

Three-month copper on the London Metal Exchange CMCU3 fell as much as 3 percent to $4,903 a tonne, its lowest since July 2009. Copper has shed 22 percent in 2015, on track for its third consecutive yearly fall.

Gold edged down, but remained close to a seven-week high as the dollar and shares tumbled.

Spot gold XAU= shed 0.5 percent to $1,154.81 an ounce as investors took profits after the metal hit its highest since July 7 on Friday.

“Gold is holding on to some of the gains it made last week and that speaks to the difficulty in the global equity market right now,” Mitsubishi Corp strategist Jonathan Butler said.

Grains also took a hit as U.S. soybeans fell to a fresh six-year low, corn lost more than 1 percent and wheat slid 2 percent to a near two-week low.

An improved U.S. supply outlook also weighed on prices and Chicago Board of Trade November soybeans SX5, the most actively traded contract, fell more than 2 percent to a contract low of $8.71-1/2 a bushel.