A large, systemically important financial institution, heavily invested in a specific type of asset, suddenly collapses. Arrange the following events to illustrate the most likely sequence by which this single failure spreads and develops into a widespread financial crisis.
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A large, systemically important financial institution, heavily invested in a specific type of asset, suddenly collapses. Arrange the following events to illustrate the most likely sequence by which this single failure spreads and develops into a widespread financial crisis.