February 14, 2008: Commerzbank, Germany's second-biggest bank, cut $1.1 billion off the value of investments linked to the sub-prime mortgage crisis and warned its losses could worsen.
March 7, 2008: The former bosses of Merrill Lynch and Citigroup were questioned by a Congressional panel over their bumper pay -- despite huge, sub-prime related bosses at their banks.
The Sensex ended the day with a marginal loss of 52 points at 15,924 on March 10. The NSE Nifty finished with a gain of 29 points at 4,800.
March 11, 2008: Central banks made another coordinated attempt to ease conditions in the credit markets, by announcing $200 billion of new emergency lending for banks.
March 14, 2008: Investment fund Carlyle Capital failed as the credit crisis spreads from sub-prime related products to other mortgage-backed investments.
Bear Stearns received emergency funding, after its exposure to mortgage-backed investments undermined confidence in the bank.
And on March 17, Sensex ended with a hefty loss of 951 points at 14,809 -- one of its biggest single-day falls.
Image: The building of the German Commerzbank building in Duesseldorf, Germany | Photograph: Patrik Stollarz/Getty Images
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