What global financial crisis followed the collapse of Lehman Brothers in September 2008?

The global financial crisis that followed the collapse of Lehman Brothers in September 2008 was the Global Financial Crisis.

Lehman Brothers filed for bankruptcy on 15 September 2008, intensifying a financial shock that had already emerged from the U.S. housing and mortgage markets. Banks and investors held complex securities linked to risky mortgages, while falling property prices weakened borrowers and lenders.

Stock markets plunged around the world, credit became difficult to obtain, and governments and central banks introduced emergency measures. The crisis led to the Great Recession, the most severe global downturn since the Great Depression in many countries.

Lehman’s failure was a major accelerant, not the sole origin of the crisis. The U.S. housing bubble, subprime lending, securitization, leverage, and fragile financial institutions had created vulnerabilities years earlier.