Minecraft crashes on loading world/building terrain screen

Minecraft Crash Report ----
// There are four lights!

Time: 7/29/17 7:43 PM
Description: Updating screen events

java.lang.IllegalStateException: failed to create a child event loop
at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:88)
at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:58)
at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:47)
at io.netty.channel.MultithreadEventLoopGroup.<init>(MultithreadEventLoopGroup.java:58)
at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:77)
at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:72)
at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:59)
at ox$1.a(SourceFile:61)
at ox$1.b(SourceFile:58)
at rf.c(SourceFile:10)
at ox.a(SourceFile:152)
at bhz.a(SourceFile:2209)
at bog.a(SourceFile:212)
at bli.a(SourceFile:334)
at bog.a(SourceFile:352)
at bli.k(SourceFile:397)
at bli.q(SourceFile:374)
at bhz.t(SourceFile:1625)
at bhz.az(SourceFile:1000)
at bhz.a(SourceFile:419)
at net.minecraft.client.main.Main.main(SourceFile:123)
Caused by: io.netty.channel.ChannelException: failed to open a new selector
at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:157)
at io.netty.channel.nio.NioEventLoop.<init>(NioEventLoop.java:149)
at io.netty.channel.nio.NioEventLoopGroup.newChild(NioEventLoopGroup.java:127)
at io.netty.channel.nio.NioEventLoopGroup.newChild(NioEventLoopGroup.java:36)
at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:84)
... 20 more
Caused by: java.io.IOException: Unable to establish loopback connection
at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:101)
at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:68)
at java.security.AccessController.doPrivileged(Native Method)
at sun.nio.ch.PipeImpl.<init>(PipeImpl.java:170)
at sun.nio.ch.SelectorProviderImpl.openPipe(SelectorProviderImpl.java:50)
at java.nio.channels.Pipe.open(Pipe.java:155)
at sun.nio.ch.WindowsSelectorImpl.<init>(WindowsSelectorImpl.java:127)
at sun.nio.ch.WindowsSelectorProvider.openSelector(WindowsSelectorProvider.java:44)
at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:155)
... 24 more
Caused by: java.net.ConnectException: Connection timed out: connect
at sun.nio.ch.Net.connect0(Native Method)
at sun.nio.ch.Net.connect(Net.java:457)
at sun.nio.ch.Net.connect(Net.java:449)
at sun.nio.ch.SocketChannelImpl.connect(SocketChannelImpl.java:647)
at java.nio.channels.SocketChannel.open(SocketChannel.java:189)
at sun.nio.ch.PipeImpl$Initializer$LoopbackConnector.run(PipeImpl.java:130)
at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:83)
... 32 more