Which U.S. financial crisis followed the collapse of the housing bubble and peaked with the 2008 market crash?

The crisis that followed the U.S. housing bubble and peaked with the 2008 market crash was the Global Financial Crisis.

The crisis developed from rising housing prices, risky mortgage lending, complex mortgage-backed securities, excessive leverage, and weaknesses in financial regulation and risk management. When U.S. house prices fell and mortgage defaults increased, losses spread through banks and financial markets.

The failure of Lehman Brothers in September 2008 intensified the panic, while governments and central banks introduced emergency measures to support the financial system. Stock markets around the world fell sharply, and the resulting recession affected employment, trade, and public finances.

The crisis is also called the 2007–2008 financial crisis or the Great Recession financial crisis. It is broader than the 2008 stock-market crash alone: the housing collapse and banking stress began earlier, while the economic effects lasted longer.