Which 2008 crisis followed the collapse of Lehman Brothers and caused worldwide market turmoil?

The 2008 crisis that followed the collapse of Lehman Brothers and caused worldwide market turmoil was the global financial crisis.

The crisis grew from problems in the U.S. housing and mortgage markets, especially risky lending and complex securities linked to home loans. As house prices fell and borrowers defaulted, financial institutions faced large losses and became reluctant to lend to one another.

Lehman Brothers filed for bankruptcy on September 15, 2008, intensifying the panic. Stock markets fell around the world, credit conditions tightened, and governments supplied emergency support to banks and other institutions. The recession that followed was global. The crisis is often called the 2008 financial crisis, although its roots developed earlier and its economic consequences continued afterward.