The Nasdaq Composite closed at 5,048.62 at its dot-com-era peak on March 10, 2000.
The index had risen dramatically during the late-1990s technology boom, as investors poured money into internet, software, telecommunications, and other growth companies. Many firms had little revenue or no profits, but optimism about the internet justified very high valuations in the eyes of buyers.
After the March 2000 peak, the Nasdaq entered a prolonged collapse as investors reassessed earnings, business models, and share prices. The decline became known as the dot-com crash, and the index did not regain its 2000 closing high until 2015.
The Nasdaq Composite is not the same as the Dow Jones Industrial Average or the S&P 500. It includes thousands of Nasdaq-listed companies and has historically carried a strong technology-sector influence.