November 14, 2007: Mizuho, Japan's second largest banking group, saw a 17 per cent drop in first-half net profits and cut its full-year operating profit forecast by 13 per cent, largely as a result of sub-prime-related losses at its securities arm.
On November 14, in one of the biggest ever rally, the Sensex zoomed 894 points, but the next day it ended down 144 points at 19,785.
November 15, 2007: British banking major Barclays said it had written down $2.6 billion in sub-prime losses.
Sensex ended down 87 points at 19,698 on November 16.
November 20, 2007: US mortgage guarantor Freddie Mac sets aside $1.2bn to cover bad loans and reports a $2bn loss.
Sensex ended with a loss of 678 points at 18,603 on November 21, one of the biggest single-day loss in absolute terms. The Nifty lost 220 points to close at 5,561.
December 4, 2007: US mortgage giant Fannie Mae issues $7 billion of shares to cover losses linked to the housing market.
On December 6, the Sensex ended up 58 points at 19,796.
Image: Freddie Mac headquarters in McClean, Virginia | Photograph: Chip Somodevilla/Getty Images
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