Which 2008 crisis followed the collapse of Lehman Brothers and became the deepest global financial shock since the 1930s?

The 2008 crisis that followed the collapse of Lehman Brothers and became the deepest global financial shock since the 1930s was the global financial crisis.

The crisis grew from excessive borrowing, a U.S. housing bubble, risky mortgage lending, and complex securities tied to home loans. When house prices fell and mortgage defaults rose, banks and investors suffered large losses. Lehman Brothers filed for bankruptcy on September 15, 2008, intensifying the panic in credit and stock markets.

Governments and central banks responded with bank rescues, emergency lending, interest-rate cuts, and fiscal stimulus. The crisis caused a severe recession, rising unemployment, and major declines in stock markets worldwide. It is often called the Global Financial Crisis or the Great Financial Crisis. The later European debt crisis was related but centered especially on sovereign-debt problems in the euro area.