Which bank’s bankruptcy on September 15, 2008 intensified the global stock-market crash?

Lehman Brothers’ bankruptcy on September 15, 2008, intensified the global stock-market crash.

Lehman Brothers was the fourth-largest investment bank in the United States when it filed for Chapter 11 bankruptcy protection. Its collapse followed years of heavy exposure to mortgages and securities linked to the U.S. housing market.

The filing became a major symbol of the global financial crisis because Lehman had extensive relationships with banks, funds, and other financial institutions. Its failure increased fears about counterparty risk and the stability of the financial system, causing sharp falls in markets worldwide.

Bear Stearns had already been rescued and sold to JPMorgan Chase in March 2008, but Lehman was not saved in the same way. Merrill Lynch agreed to be acquired by Bank of America on the same weekend, adding to the sense of a systemic emergency.