Commodity prices are now seeing a major downturn, as investors are staging an unprecedented stampede for the exits.

Oil has collapsed into a free-fall, diving 10 percent and sending U.S. crude prices back under $100-dollars a barrel.

Silver has plunged more than 10 percent, its biggest slump since 1983.

The overall commodity downturn has dragged gold down over 3 percent as well, as panic selling has snowballed across the commodities sector.

The US dollar has risen nearly 2 percent against the euro, making world commodities, which are valued on the dollar, more expensive for holders of other currencies.

Analysts are suggesting the recent free-fall of in the commodities sector is a price correction, with many saying that most commodities in recent weeks have been largely over-valued.