The Nasdaq Composite’s highest closing level before the dot-com crash was 5,048.62, reached on March 10, 2000.
The index had surged during the late-1990s dot-com bubble as investors poured money into internet and technology companies. Many firms had little revenue or profit, but expectations of rapid online growth pushed their share prices to extraordinary valuations.
After the March 2000 peak, technology shares began a prolonged decline. The Nasdaq Composite eventually lost roughly 78% of its value from the peak to its October 2002 low, although the exact path included many rallies and temporary recoveries.
The dot-com crash is often confused with the broader 2000–2002 bear market. The Nasdaq’s technology concentration made it especially exposed, while the collapse also affected venture capital, telecommunications, and internet businesses.