Over a span of roughly 60,000 years at the Permian-Triassic boundary, approximately 81% of marine species, 70% of terrestrial vertebrate species, and 57% of biological families went extinct. Massive flood basalt eruptions forming the Siberian Traps released enormous volumes of carbon dioxide and sulfur dioxide, driving ocean acidification, global temperature spikes, and widespread ocean anoxia. The event eliminated an estimated 96% of marine species and caused the most severe known loss of insect diversity.