Global stock markets tumbled, along with commodity markets, today, as fears spread that a severe slowdown in China would pull down global growth, denting energy and raw material consumption. China's Shanghai Composite index tumbled 8.5 percent, and also gave up all its gains for the year. Japan's Nikkei 225 index plunged 4.6 percent; Hong Kong Hang Seng slumped 5.2 percent; South Korea's Kospi lost 2.5 percent; and Singapore's Straits Times index slid 4.3 percent. Analysts said there was panic in the markets. The European markets were also beaten down, with the UK'S FTSE-100 losing 2.8 percent, and France's CAC-40 and Germany's DAX slipping 2.9 percent, each, in intra-day trade. In commodities, coal, copper and aluminum hit their lowest levels since 2009. With serious doubts now emerging about the likelihood of a U.S. interest rate rise this year, the dollar slid against other major currencies.