Which 2008 market crash is associated with the bankruptcy of Lehman Brothers?

The global financial crisis was the 2008 market crash associated with the bankruptcy of Lehman Brothers.

The crisis grew from a housing and credit boom, especially in the United States. Mortgage lenders issued large numbers of risky loans, while banks and investors packaged mortgages into securities and related derivatives. When U.S. house prices fell and mortgage defaults increased, the value of those assets became uncertain.

Lehman Brothers filed for bankruptcy on September 15, 2008, after efforts to find a buyer failed. The filing intensified a worldwide loss of confidence, tightened credit, and caused severe falls in stock markets. Governments and central banks then used emergency lending, guarantees, capital injections, and interest-rate reductions to limit the damage.

The crisis produced a deep global recession and led to major financial reforms. It is often confused with the later European sovereign-debt crisis, which involved government borrowing problems in several euro-area countries and became especially prominent after 2009.