The market crash that followed the late-1990s Internet stock bubble was the dot-com crash.
Technology and Internet shares rose rapidly during the second half of the 1990s as investors expected enormous growth from online businesses. The Nasdaq Composite reached a peak of 5,048.62 on 10 March 2000. Many companies had little revenue, no profits, or business models that depended almost entirely on continued investor enthusiasm.
After the peak, technology shares fell heavily and many Internet companies failed or were acquired. The Nasdaq ultimately lost roughly 78 percent of its value from its 2000 peak to its October 2002 low. The crash did not eliminate the Internet economy; companies with durable products and stronger finances survived and later expanded. A common mix-up is using “dot-com bubble” for both the rise and the crash, while “dot-com crash” specifically emphasizes the collapse.