What was the name of the 2008 worldwide market collapse associated with the failure of Lehman Brothers?

The 2008 worldwide market collapse associated with Lehman Brothers was the global financial crisis.

The crisis grew from a housing and credit boom, especially in the United States. Mortgage lenders extended many risky loans, and financial institutions packaged mortgages into securities that were distributed throughout the global financial system. When house prices fell and borrowers defaulted, the value of those securities became uncertain.

Lehman Brothers filed for bankruptcy on September 15, 2008. The failure intensified panic because investors feared that other banks and financial institutions might also be unable to meet their obligations. Stock markets plunged, credit tightened, and governments introduced emergency guarantees, rescues, and stimulus measures.

The crisis is often called the 2008 financial crisis, but its causes began earlier and its effects continued afterward. It was broader than a stock-market decline: housing, banking, credit markets, employment, and international trade were all damaged.