After the early subprime housing credit crisis, investors began to lose confidence in the value of mortgage securities, triggering a liquidity crisis.

The 2007-2009 global financial crisis, also known as the world financial crisis, credit crisis, and credit crisis, was also named the financial tsunami and Wall Street tsunami in 2008. It was a financial crisis that began to emerge on August 9, 2007.

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After the early subprime housing credit crisis, investors began to lose confidence in the value of mortgage securities, triggering a liquidity crisis.

Even if central banks of many countries repeatedly injected huge amounts of money into the financial market, they could not prevent the outbreak of this financial crisis.

It was not until September 9, 2008, that the financial crisis began to spiral out of control and resulted in the collapse or government takeover of several fairly large financial institutions.

Expanded information broke out: On Sunday, September 14, Lehman Brothers filed for bankruptcy after the Federal Reserve refused to provide financial support assistance, and on the same day Merrill Lynch announced that it was acquired by Bank of America.

These two events marked the beginning of the global stock market crash in September 2008 the following week, with global stock markets plummeting in market value on September 15 (Monday) and September 17 (Wednesday).