The Nasdaq Composite peaked at a closing level of 5,048.62 on March 10, 2000, at the height of the dot-com bubble.
The index had risen dramatically as investors poured money into internet and technology companies. Many businesses attracted enormous valuations despite limited revenue, continuing losses, or untested business models.
After the March 2000 peak, technology shares fell sharply. The Nasdaq decline became the central market expression of the dot-com bubble’s collapse, although the wider bear market extended beyond internet start-ups.
The 5,048.62 figure is a closing value, not the highest intraday quotation. It is also different from later Nasdaq records reached during subsequent technology booms, so the date and historical context matter.