What was the 2008 market crash period commonly called after the collapse of Lehman Brothers?

The 2008 market crash period following Lehman Brothers’ collapse was part of the global financial crisis.

The crisis intensified after Lehman Brothers filed for bankruptcy on September 15, 2008. Banks and investors had become heavily exposed to U.S. mortgage-related securities, especially loans connected to the housing boom. When house prices fell and mortgage defaults rose, the value of those securities became uncertain, damaging confidence and freezing important credit markets.

Stock markets worldwide plunged, and the S&P 500 eventually fell about 57% from its October 2007 peak to its March 2009 low. Governments and central banks responded with emergency lending, bank rescues, interest-rate cuts, and fiscal stimulus. The global financial crisis is broader than the 2008 crash alone: serious stress began in 2007 and the economic consequences continued afterward. It is also distinct from the 1997 Asian financial crisis and the 2000–2002 dot-com crash.