What major event was triggered by the financial crisis of 2008?

The financial crisis of 2008 had profound and far-reaching effects on the global economy, and it directly led to significant economic downturns across many countries. As a result of the crisis, numerous financial institutions faced insolvency, which necessitated large-scale government interventions, commonly referred to as bailouts. These bailouts included the U.S. government injecting capital into major banks and other financial entities to stabilize the financial system, along with programs like the Troubled Asset Relief Program (TARP).

The economic downturn that followed the crisis brought about a recession characterized by high unemployment rates, decreased consumer spending, and a collapse in housing prices, which had widespread implications on personal wealth and business stability. In response, governments around the world took measures to stimulate their economies through both fiscal and monetary policy, aiming to mitigate the impacts of the downturn.

The other options presented are not directly tied to the crisis. While military spending or healthcare policies may have been influenced by political dynamics in a broader context, they were not direct responses to the economic turmoil of 2008. Similarly, international trade agreements are typically influenced by ongoing economic conditions but were not a direct trigger or major response stemming from the financial crisis. Thus, the answer highlighting significant economic downturns and government bailouts