The Nasdaq Composite reached a dot-com-bubble closing high of 5,048.62 on March 10, 2000.
The index’s rise reflected extraordinary enthusiasm for internet and technology companies. Investors often valued businesses according to website traffic, subscribers, or future potential rather than current profits. Venture capital, easy access to public markets, and widespread excitement about the commercial internet helped push technology shares to extreme levels.
After the March 2000 peak, the Nasdaq entered a long decline. Many newly listed companies failed, while established technology firms also lost substantial market value. The index eventually fell to about 1,114 in October 2002, roughly 78% below its peak. The collapse was a major part of the wider dot-com bust.
The peak is sometimes confused with the index’s intraday high, which was slightly higher than the closing figure. A closing value records where the market finished the session; 5,048.62 is the canonical closing milestone associated with the bubble’s top.