The stock-market crash after technology shares peaked around 2000 is commonly called the dot-com crash.
During the late 1990s, investors poured money into internet and technology companies, often valuing firms on expected future growth rather than current profits. The Nasdaq Composite reached a closing peak of 5,048.62 on March 10, 2000.
After the peak, rising skepticism, tighter financing conditions, and disappointing business results caused technology shares to fall sharply. The Nasdaq lost roughly 78% from its peak to its October 2002 low. Many internet start-ups failed, while stronger companies survived and later became central to the digital economy.
The dot-com crash is not identical to the 2008 financial crisis. The earlier collapse centered on technology-stock valuations and venture businesses; the later crisis centered on housing finance, banks, and complex credit markets. Both, however, showed how optimism and leverage can amplify market losses.