The Nasdaq Composite closed at 1,114.11 on October 9, 2002, its low during the 2000–02 dot-com crash.
The index had reached a record close of 5,048.62 on March 10, 2000, at the height of enthusiasm for internet and technology shares. Investors had priced many companies for enormous future growth despite limited revenue, losses, or untested business models. When expectations changed, the retreat spread across the technology sector.
From its 2000 peak to the October 2002 low, the Nasdaq lost about 78% of its value. The decline was not a single-day crash; it was a prolonged bear market involving failed start-ups, shrinking investment, layoffs, and accounting concerns. The September 11 attacks and the broader economic slowdown added to the difficult environment.
The Nasdaq later exceeded its 2000 record, but not until 2015. A common mix-up is to confuse the intraday low with the closing low. The number in this question is the index’s closing level on October 9, 2002.