The Nasdaq Composite reached its lowest closing level of the dot-com crash on 9 October 2002.
The index closed at 1,114.11 on that date, after falling from its record closing high of 5,048.62 on 10 March 2000. The decline reflected the collapse of speculative internet valuations, disappointing corporate earnings, bankruptcies, and a broad retreat from technology shares.
The Nasdaq Composite is a market-capitalization-weighted index containing thousands of companies listed on the Nasdaq exchange. Because technology and internet businesses made up a large share of its market value, it became the most visible benchmark for the dot-com boom and its aftermath.
The October 2002 low is sometimes confused with the March 2000 peak, which marked the beginning of the crash rather than its bottom. The index later recovered, but it did not close above its March 2000 record until 2015, illustrating how long major market drawdowns can take to reverse.