Fears over US monetary tightening, rate hikes, and recession triggered the 1987 stock market crash, and there are parallels with today’s market environment, said Société Générale’s Albert Edwards. In his latest note, the ultra-bearish strategist said the evolution of bonds yields and equity markets this year looks similar to what happened before the market collapse of 1987.

With the Standard and Poors 500 (S&P 500) just hitting new highs, we are beginning to hear a common concern — volume is low and this is bearish. Overall total-dollar volume is lower now than it was during the financial crisis. In fact, if volume starts to spike higher now, this will be a big warning sign.

Last Thursday, after a couple of weeks of steady but relatively normal declines, the Dow suddenly tanked 500 points. Then, after a modest recovery on Friday, it fell 600 points — then it soared 400 points. Then it plunged 500 points — then it blasted off to another 400 point gain.

There is a massive wealth destruction coming warns Hong Kong economist Marc Faber, who predicts the Super-Rich may lose up to 50 percent of their total wealth.

Investors continue to debate on whether gold is or isn’t a safe-haven asset and are trying to figure out if this is the end of the Gold Bull Market.