Which 2008 crash is associated with the failure of Lehman Brothers in the United States?

The 2008 crash associated with the failure of Lehman Brothers in the United States was part of the global financial crisis.

The crisis developed from a housing and credit boom, especially in the United States. Mortgages were packaged into complex securities and distributed through the global financial system. When U.S. house prices fell and mortgage defaults increased, the value of many securities became uncertain. Financial institutions began to distrust one another and restrict lending.

Lehman Brothers filed for bankruptcy on September 15, 2008, in the largest bankruptcy filing in U.S. history at that time. The failure intensified panic in credit and equity markets. Governments and central banks responded with emergency lending, bank rescues, guarantees, fiscal stimulus, and sharply lower interest rates.

The crisis was broader than the stock-market fall alone. It produced a deep recession, large increases in unemployment, and major public debate over financial regulation. The 2000–2002 dot-com crash was earlier and centered on technology shares rather than a global mortgage-credit breakdown.