Page last updated at 08:39 GMT, Monday, 3 November 2008

This is one of the most tumultuous times on record in the global financial markets.

The financial landscape is going through a period of upheaval with some major firms folding, other operations merging and a limited number of companies in both the Europe and the US, being rescued by governments.

Governments have spent billions of dollars on rescue packages, led by the US with its $700bn rescue package.

BANKS AFFECTED BY THE GLOBAL CRISIS - 2008

Giants of the business world, such as Lehman Brothers and Merrill Lynch, have crumbled or been bought out.

Bank Date Status Website
Fannie Mae 07 Sep Nationalised Fannie Mae  
Freddie Mac 07 Sep Nationalised Freddie Mac
Lehman Bros 15 Sep Collapsed Lehman Bros
Merrill Lynch 15 Sep Taken over Merrill Lynch  
AIG 16 Sep Part-nationalised AIG  
HBOS 17 Sep Taken over HBOS  
WaMu 25 Sep Collapsed and sold WaMu  
Fortis 28 Sep Nationalised Fortis  
Bradford & Bingley 29 Sep Nationalised Bradford & Bingley  
Wachovia 29 Sep Taken over Wachovia  
Glitnir 29 Sep Nationalised Glitnir  
Hypo Real Estate 06 Oct Rescue package Hypo Real Estate  
RBS 13 Oct Part-nationalised RBS  
Lloyds TSB 13 Oct Part-nationalised Lloyds TSB  

Much of the current crisis has been caused by the banks' unwillingness to lend to each other, so the UK government has come up with a plan to inject billions of pounds in capital and to guarantee loans in the hope that lending will resume. The government has also nationalised or part-nationalised some leading UK banks struggling to survive the crisis.

In London confidence in the markets fell with news of Bradford and Bingley's nationalisation.

Banks have continued to suffer the steepest falls in share prices.

US bank Merrill Lynch was taken over by Bank of America on 15 September prompting an initial recovery in shares, but they have since dipped again. Fortis shares were falling sharply until a rescue deal was mounted by European banks on 29 September.

The price of metals and oil has also been affected by the financial chaos. After reaching a record high in July of $147 a barrel, the price of oil has fallen and is now back under the $100 mark.

Gold has fluctuated significantly.