The stock market going down and a decent potential of recession doesn't meet the definition of "financial crisis" that is used by people in finance.

I guess you can make up your own definition.

We're not in a financial crisis.

To add to this, we’re in a bear market and possibly recession. But not a financial crisis. (We’re also not in a currency crisis. The dollar is gaining against pretty much every currency. It’s also gaining against practically every crypto.)