Which 2008 crisis caused a worldwide stock-market collapse after the failure of Lehman Brothers?

The global financial crisis was the 2008 crisis that caused a worldwide stock-market collapse after Lehman Brothers failed.

Lehman Brothers filed for bankruptcy on September 15, 2008, after losses connected to mortgage-related assets and the collapse of the U.S. housing market. The failure intensified fear about bank solvency and froze important credit markets. Financial institutions, companies, and households around the world faced tighter access to financing.

Stock markets fell sharply in 2008 and early 2009 as investors anticipated recession and further financial losses. Governments and central banks responded with emergency lending, bank rescues, guarantees, interest-rate cuts, and other extraordinary measures. The United States entered the Great Recession, while the effects spread internationally.

The crisis is sometimes called the subprime mortgage crisis, but that phrase emphasizes one major origin rather than the full worldwide banking and economic breakdown. It also differs from the later European debt crisis, which centered especially on sovereign-debt problems in the euro area.