What was the name of the 1997 event when Thailand’s currency crisis spread into a major Asian stock-market collapse?

The 1997 event was the Asian financial crisis.

The crisis began in Thailand after pressure on the baht forced the country to abandon its fixed exchange-rate system in July 1997. Currency devaluations, capital flight, and collapsing confidence then spread through several East and Southeast Asian economies.

Stock markets fell sharply in Thailand, Indonesia, South Korea, Malaysia, and other affected markets. Many firms and banks had borrowed heavily in foreign currencies, so local-currency depreciation made their debts much harder to repay.

The International Monetary Fund organized rescue programs for several countries, including Thailand, Indonesia, and South Korea. The episode is sometimes called the Asian currency crisis, but its effects extended beyond exchange rates into banking systems, corporate finance, employment, and equity markets.