Comment 1 for bug 1989015

that definitely looks like stack overflow, which it can't handle while allocating.
Maybe try starting sbcl with "--control-stack-size N" where N is megabytes. The default is 2.
Also maybe try inserting
   extern void backtrace_from_fp(void *fp, int nframes, int start);
   backtrace_from_fp((void*)*os_context_fp_addr(context), 1000, 0);
into your configurable lossage handler. It should produce better output than gdb