Which 2008 global financial crisis intensified after the collapse of the investment bank Lehman Brothers?

The 2008 global financial crisis intensified after the collapse of Lehman Brothers.

The crisis grew from problems in the U.S. housing and mortgage markets, especially the expansion of risky subprime lending and the widespread packaging of mortgage debt into complex securities. When home prices fell and borrowers defaulted, financial institutions faced large losses and uncertainty about the value of assets on their balance sheets.

Lehman Brothers filed for bankruptcy on September 15, 2008, the largest bankruptcy filing in U.S. history at that time. Its failure sharply increased stress in global credit markets. Governments and central banks responded with emergency lending, bank rescues, guarantees, and fiscal stimulus.

The event is often called the Global Financial Crisis or the 2008 financial crisis. It is distinct from the later European sovereign-debt crisis, although weaknesses exposed in 2008 contributed to financial and fiscal problems in several European countries.