Which 2008 crisis followed the collapse of Lehman Brothers and triggered worldwide stock-market losses?

The 2008 crisis that followed Lehman Brothers’ collapse and triggered worldwide stock-market losses was the global financial crisis.

The crisis developed from problems in the U.S. housing and mortgage markets, especially the growth of risky subprime lending and complex securities linked to mortgages. When house prices fell and defaults increased, losses spread through banks and investors around the world.

Lehman Brothers filed for bankruptcy on September 15, 2008. Its failure intensified already severe concerns about counterparty risk and financial-system stability. Equity markets plunged, credit tightened, and governments intervened with guarantees, capital injections, and emergency lending.

The crisis is often called the Great Recession because it produced the deepest global downturn since the 1930s. It is different from the 2000 dot-com collapse, which centered mainly on technology-stock valuations rather than housing finance and leveraged mortgage securities.