How does rising atmospheric CO2 affect marine organisms?

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Chilean Continental Slope, Southern Chile
Lamy, F., Hebbeln, D., Röhl, U. and Wefer, G. 2001. Holocene rainfall variability in southern Chile: a marine record of latitudinal shifts of the Southern Westerlies. Earth and Planetary Science Letters 185: 369-382.

The authors used the iron content from an ocean sediment core taken from the Chilean continental slope (41°S, 74.45°W) as a proxy for historic rainfall in this region during the Holocene. Results indicated several centennial and millennial-scale phases of rainfall throughout this period, including an era of decreased rainfall "coinciding with the Medieval Warm Period," which was followed by an era of increased rainfall during the Little Ice Age. Given these results, they concluded that their data "provide further indications that both the LIA and MWP were global climate events."