What was the name of the 1998 Russian stock-market crash and debt crisis?

The 1998 Russian stock-market crash and debt crisis is known as the Russian financial crisis.

The crisis culminated in August 1998, when Russia devalued the ruble, defaulted on domestic debt, and declared a moratorium on some foreign debt payments. Russian shares had already suffered a severe decline as falling commodity prices weakened government revenue and investors lost confidence.

The turmoil spread through international financial markets. The collapse of confidence helped destabilize Long-Term Capital Management, a highly leveraged U.S. hedge fund. The Federal Reserve Bank of New York helped coordinate a private-sector recapitalization of the fund, although the U.S. government did not directly bail it out.

This episode is distinct from the Asian financial crisis, which began in 1997 and affected several East and Southeast Asian economies. The Russian crisis was partly connected to that turmoil but had its own domestic fiscal, currency, and debt causes.