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What is another word for financial crisis?

Need synonyms for financial crisis? Here's a list of similar words from our thesaurus that you can use instead.

Noun
A period of serious economic slowdown characterised by devaluing of financial institutions often due to reckless and unsustainable money lending
“The global economy was thrown into turmoil during the financial crisis of 2008, as the reckless lending practices of major banks led to a massive devaluation of financial institutions worldwide.”
Noun
A sudden, significant decline in the value of stocks and securities traded in the financial market
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