The 2000–2002 U.S. stock-market crash centered on technology shares was called the dot-com crash.
It followed the collapse of the dot-com bubble, a period when investors bid up internet and technology companies, including many businesses with little revenue or no profits. The Nasdaq Composite reached a peak of 5,048.62 on March 10, 2000.
When expectations changed, technology shares fell sharply. Many internet companies failed, while even established firms lost substantial market value. The Nasdaq eventually reached a low of 1,114.11 in October 2002, a decline of roughly 78% from its peak.
The crash did not mean that the internet lacked economic value. Companies such as Amazon survived and later expanded, while the bubble’s collapse removed many speculative businesses. “Dot-com bubble” describes the buildup; “dot-com crash” describes the subsequent market decline.