Is The Latest Market Plunge Signaling The Start Of The Next Economic Crisis

The market plunged by 600 points, the wealthy lost approximately 68.5 billion, this is a drop in the bucket, when the market drops losses will be 100 times greater. Even if you are not in the market it will have an effect on everyone. Is this plunge in the market an indicator that this is a start of the economic crisis. The situation looks very similar to 2008.