What was the name of the 2008 global stock-market collapse linked to the subprime mortgage crisis?

The worldwide market collapse associated with the subprime mortgage crisis was part of the global financial crisis.

The crisis developed from problems in U.S. housing finance, including risky mortgages, rising defaults, falling house prices, and complex securities tied to mortgage payments. Financial institutions around the world held or depended on these assets, so losses spread through interconnected credit markets. The failure of Lehman Brothers on September 15, 2008, became a major symbol of the escalation.

Stock markets plunged in many countries during late 2008 and early 2009. Governments and central banks responded with bank rescues, guarantees, emergency lending, interest-rate cuts, and other extraordinary measures. The crisis produced the Great Recession, although the terms do not mean exactly the same thing: one describes a financial breakdown, while the other describes the subsequent economic contraction.

The crisis was not caused by one single mortgage or one trading day. Excessive leverage, weak risk controls, securitization, and fragile short-term funding all contributed.