Which 2008 crisis was triggered in part by the collapse of the U.S. subprime-mortgage market?

The 2008 crisis triggered in part by the collapse of the U.S. subprime-mortgage market was the global financial crisis.

U.S. lenders issued large numbers of mortgages to borrowers with weaker credit during the housing boom. These loans were bundled into mortgage-backed securities and related products held by banks and investors around the world. When house prices fell and defaults increased, the value of those securities became uncertain.

Credit markets seized up, major financial institutions failed or required government support, and stock markets plunged internationally. Lehman Brothers filed for bankruptcy on 15 September 2008, becoming a major symbol of the crisis’s escalation.

The crisis was also called the global financial crisis or the Great Recession crisis. The Great Recession describes the economic downturn that followed, while the financial crisis refers more specifically to the banking, credit and market turmoil.