The 2000–2002 stock-market collapse driven largely by technology-share valuations was the dot-com crash.
During the late 1990s, investors poured money into internet companies, many of which had little revenue or no profits. The Nasdaq Composite became the leading market gauge for this enthusiasm, rising dramatically as expectations for online business growth overwhelmed traditional valuation measures.
The bubble reached its peak in March 2000. When confidence changed, technology shares fell sharply, venture funding dried up, and many internet companies failed or were acquired. The Nasdaq continued declining until October 2002, when it had lost roughly 78% from its peak.
The crash did not mean that the internet lacked economic importance. Companies such as Amazon and Google eventually became major businesses, but their later success did not justify every speculative valuation during the bubble.