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It is shaping up to be 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 at a governmental level.
As the global financial crisis has worsened, the number of firms to crumble or be bought out has increased.
Governments have spent billions of dollars on rescue packages, led by the US with its $700bn rescue package.
In London, confidence in the markets fell with news of Bradford and Bingley's nationalization.
Banking shares have been the worst hit by the financial turmoil.
FTSE 100 INDEX: 16 September 2008 - present
In Japan, the main Nikkei index lost 3% in value following news of the failure of the US bail-out plan.
NIKKEI 225 INDEX: 16 September 2008 - present
After the failure of the US bail-out plan, the Dow Jones index lost 770 points, 6.9%, its biggest one-day fall since the present crisis began.