The 2000–2002 collapse in many internet-company shares was the dot-com crash.
During the late 1990s, investors bid up technology and internet companies, often valuing businesses on expected future growth rather than current profits. The Nasdaq Composite reached 5,048.62 on 10 March 2000, its peak during the bubble.
After that peak, investors became less willing to fund companies with weak earnings or unproven business models. The Nasdaq fell sharply, and many internet start-ups failed or were acquired. The September 2001 terrorist attacks and a broader economic slowdown added to market pressure, but the bubble had already begun to deflate.
The dot-com crash is not the same as the 2008 financial crisis. It was concentrated especially in technology and internet shares, while the later crisis centered on credit, housing, and banking.