Global financial crisis in September 2008
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The subprime mortgage crisis reached a critical stage during the first week of September 2008, characterized by severely contracted liquidity in the global credit markets[1] and insolvency threats to investment banks and other institutions.
This article is about a detailed description of the financial market events of September 2008. For the background information, causes, effects and policy responses, see 2007–2008 financial crisis. For a timeline, see Subprime crisis impact timeline.