Which 2008 financial crisis followed the collapse of Lehman Brothers and triggered a worldwide stock-market sell-off?

The 2008 financial crisis followed the collapse of Lehman Brothers and triggered a worldwide stock-market sell-off.

The crisis developed from a combination of excessive housing credit, risky mortgage lending, complex securitized products, and high leverage. When U.S. house prices fell and mortgage defaults increased, institutions began doubting the value of assets held across the financial system. Lehman Brothers filed for bankruptcy on September 15, 2008, intensifying the panic.

Stock markets fell sharply during late 2008 and early 2009. Governments and central banks introduced emergency lending, bank rescues, guarantees, stimulus measures, and interest-rate cuts. The turmoil spread well beyond the U.S. housing market because banks and investors worldwide were interconnected.

The Global Financial Crisis is broader than the stock-market crash alone. The market collapse was one visible part of a financial and economic crisis that also produced a severe recession and a major rise in unemployment.