Silver futures on Friday dropped 17.7% to log their biggest one-day percentage decline since least 1984, according to data from FactSet Research dating back to November 1984.
Platinum futures also fell the most in a single day since May 20, 2010.
The metals market suffered from a "massive, no-holds barred flight from risk to cash and the U.S. bond and dollar market," said Tim Murray, general manager of precious metals marketing at Johnson Matthey.
December silver dropped $6.48 to close at $30.10 an ounce on the Comex division of the New York Mercantile Exchange.
October platinum sank $97.40, or 5.7%, to end at $1,613.20 an ounce.
December palladium lost $21.55, or 3.3%, to end at $642.50 an ounce and December copper closed at $3.28 a pound, down 21 cents, or 6%.
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