When did the collapse of Lehman Brothers intensify the 2008 global stock-market crash?

The collapse of Lehman Brothers intensified the 2008 global stock-market crash on September 15, 2008.

Lehman Brothers filed for Chapter 11 bankruptcy protection on that date, in the largest U.S. bankruptcy filing at the time. The investment bank had been heavily exposed to mortgage-related assets and was unable to secure a buyer or a government-backed rescue.

The filing sharply increased fears about the stability of banks and the global financial system. Credit markets seized up, financial shares fell, and governments responded with emergency lending, guarantees, capital injections, and other extraordinary measures.

The bankruptcy did not begin the subprime mortgage crisis: stress had already appeared in 2007, and Bear Stearns had failed earlier in 2008. Lehman’s failure was nevertheless a crucial turning point because it transformed a severe financial problem into an acute worldwide panic.