The technology-driven market collapse after the late-1990s internet investment boom was commonly called 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 a major gauge of enthusiasm for technology stocks, and its rise encouraged new online businesses to seek public funding. Valuations often depended more on expected future growth than on established earnings.
The bubble reached its peak on March 10, 2000, when the Nasdaq Composite closed at 5,048.62. It then fell sharply as investors became less willing to finance unprofitable companies. The decline continued through 2002, and many dot-com firms failed or were acquired. The crash is often linked to the broader dot-com bubble, but the bubble describes the period of inflated prices while the crash describes the subsequent collapse.