The 2000–2002 crash in technology shares after the Nasdaq peaked was the dot-com crash.
The Nasdaq Composite reached an intraday high of 5,132.52 on 10 March 2000. Investors had bid up internet and technology companies, sometimes despite limited revenue, continuing losses, or untested business models.
After the peak, technology shares fell sharply as investors reassessed valuations and many companies failed to generate sustainable profits. The Nasdaq ultimately lost about 78 percent of its value from its peak to its October 2002 low.
The crash did not mean every internet company was worthless. Some firms with durable technology and business models survived or later became major companies. The term refers to the bursting of a broad speculative bubble, not simply to a single trading day.