What was the 2008 global stock-market crash closely associated with the collapse of Lehman Brothers?

The 2008 global stock-market crash was closely associated with the Global Financial Crisis, which intensified after Lehman Brothers filed for bankruptcy.

Lehman Brothers entered bankruptcy on September 15, 2008, after suffering heavy losses connected to mortgage-related assets. The failure intensified distrust among banks and investors because institutions were uncertain about the risks held by their counterparties. Credit markets tightened, and stock prices fell sharply around the world.

The crisis had deeper roots. US housing prices had risen substantially, mortgage lending standards weakened, and complex securities spread housing-market risk through the financial system. When US house prices declined and mortgage defaults increased, losses moved through banks, insurers, investment funds, and the wider economy.

The crisis was not simply a stock-market event. It produced a severe recession, government interventions, bank rescues, and major regulatory changes. The collapse of Lehman Brothers was a pivotal moment, but other institutions and earlier mortgage-market problems had already made the system fragile.