The U.S. technology-stock collapse after the dot-com bubble peaked in 2000 is known as the dot-com crash.
The Nasdaq Composite reached a closing peak of 5,048.62 on March 10, 2000. Many internet companies had attracted enormous valuations despite limited revenue, continuing losses, or untested business models. When confidence weakened, investors rapidly repriced technology and telecommunications shares.
The Nasdaq fell dramatically over the following years, losing roughly 78% from its peak to its October 2002 low. Numerous internet companies failed or were acquired, while stronger businesses survived and later became major firms. The collapse therefore did not mean that the internet itself was unsuccessful; it meant that many market valuations had become unsustainable.
The dot-com crash is sometimes used interchangeably with the dot-com bubble, but the terms describe different stages. The bubble refers to the period of speculative price inflation, whereas the crash refers to the subsequent collapse. It also differs from the 2008 financial crisis, which centered on credit and housing markets.