March 17, 2008: Wall Street investment bank Bear Stearns was acquired by JPMorgan Chase for $240m, a fraction of its share price, in deal backed by $30 billion in Fed loans.
The bank got into trouble over its huge exposure to sub-prime mortgage-backed securities.
The Sensex settled at 14,833 -- up 24 points. The NSE Nifty ended with a gain of 30 points at 4,533.
March 18, 2008: Wall Street investment banks Goldman Sachs and Lehman Brothers revealed that their first quarter profits have been halved by the credit crunch.
On March 19, Sensex gained 161 points.
March 31, 2008: US Treasury announced major package to reform regulation of US financial markets and prevent future financial crises.
Sensex ends down 18 points.
Image: A statue of the first United States Secretary of the Treasury Alexander Hamilton stands in front of the U.S. Treasury in Washington, DC | Photograph: Chip Somodevilla/Getty Images
Also read: 9 great management lessons from Dhirubhai Ambani
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