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https://youtu.be/dfyRFhJ2pyE

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the shock collapse of the Lehman Brothers Bank, which held assets worth $600 billion, became the symbolic start of the most dramatic financial crisis since the Great Depression. The causes have been attributed variously to the likes of a deregulated financial sector, poor public monetary policies and an international economy that was ultimately based upon a house of sand, with unsustainable levels of debt in both public and private sectors.

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In the midst of the Yom Kippur war of Syria and Egypt against Israel, OPEC employed oil as a weapon with the Arab Oil Embargo against those who supported Israel. Crude oil costs rose while production was cut, specifically to the U.S. and the Netherlands. The embargo lasted only five months, but the effects continue today: OPEC member states realized a level of wealth unfathomable only years before; in six weeks shares on the NYSE lost $97 billion in value.

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European Sovereign Debt Crisis (2009 onward)

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European Sovereign Debt Crisis (2009 onward)

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This is the most recent of the crises on our list, and no one is yet certain about when, or how, it is going to end. Markets have grown increasingly concerned about the ability of nations, particularly Greece, Ireland, Spain, Portugal, and Italy, to pay their debts, and the exposure of international banks to these potentially toxic debts. it has also spread to the U.S., and wrangling between Republicans and Democrats over the debt ceiling saw the U.S. have its credit rating cut for the first time in its history. The implications of poor economic figures, continued low growth and large sovereign debts remain potentially huge. It is not inconceivable that this crisis will move further up our list as it continues to play out.

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High-yield rates made Asian markets appealing,

but when the U.S. , tried to stem its own recession

by lowering interest rates, it made itself more

attractive and, as a consequence, the Asian

markets looked too risky. A domino effect followed, beginning in Thailand

and spreading through the Philippines, Hong Kong,

Indonesia, Malaysia, and beyond, triggering an

unprecedented global crisis. Asian markets that had

enjoyed some rare prosperity were slammed:

Thailand dipped 75%, Hong Kong’s HSI went down

23% and Singapore dropped 60%. Not a single

global marke

went untouched.

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the corruption, an ineffective economic

reform policy, the devaluation of the ruble,

and political instability sent Russia into a

massive financial crisis as the millennium came

to a close. Additionally, as the exporter of

one-third of the world’s oil and natural gas

reserves, Russia was extremely vulnerable to

price fluctuations. When foreign investors

pulled their money out of the country, the

banks were crippled to such an extent that

even an IMF loan was largely ineffective.

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1987-Black Monday the causes of this crisis are not known,that happened in October 19, 1987. Billions of dollars were wiped from stock markets across the globe. Hong Kong lost a massive 45.8% of its value, the United Kingdom lost 26.4%, Australia dropped 41.8%, and New Zealand dropped a full 60% from its peak.

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It was triggered by over-expansion and poor

speculation.

The stock market crashed in March, and a second

crash in October led to a run on banks and every

trust in New York, notably causing the massive

National Bank of North America to fail. it drop

almost 50% from the high of the

previous year.

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It was caused by an unsustainable level

of speculation, large amounts of credit

and low interest rates.

When the government stepped in to

control this, credit became much harder to

obtain, and capital

investment dropped significantly. It led to a

virtual halt in economic expansion in 1990.

Japan was fortunate in avoiding a depression,

but the effects of 1991 are still being felt, even

today.

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these are some of the major financial crises