What was the name of the 1997–1998 market crisis that began with currency devaluations in Thailand?

The 1997–1998 market crisis that began with currency devaluations in Thailand was the Asian financial crisis.

Thailand abandoned its fixed exchange-rate system for the baht on July 2, 1997, after intense pressure on its foreign-exchange reserves. The baht fell, and financial stress spread to other economies with high foreign-currency debt, weak banks, or property-market problems.

Indonesia, South Korea, Malaysia, and the Philippines were among the countries heavily affected. Equity markets plunged, currencies depreciated, and several governments received international assistance. The International Monetary Fund arranged major support programs, especially for Thailand, Indonesia, and South Korea.

The crisis was not limited to stock exchanges: it was also a currency, banking, and debt crisis. Russia later defaulted in 1998, and Brazil came under pressure, but those events are related international shocks rather than alternate names for the Asian financial crisis.