The Nasdaq Composite reached its peak before the dot-com crash in 2000. It closed at 5,048.62 on March 10, 2000, after a remarkable run fueled by enthusiasm for internet and technology companies.
The late-1990s boom reflected genuine technological change, including the spread of the World Wide Web, but investors often priced companies for enormous future growth rather than current earnings. Between 1995 and the bubble’s peak, the Nasdaq rose by roughly 600% according to commonly cited historical accounts.
The decline began after the March 2000 high. The index fell to half its value within a year and reached an intraday low of 1,108.49 on October 10, 2002. By then, many speculative internet businesses had failed, while surviving technology companies faced sharply lower valuations.
A frequent mix-up is confusing the Nasdaq’s peak year with its bottom year. The high came in 2000; the bear-market low arrived in 2002. The Nasdaq’s record closing level was 5,048.62, while the commonly cited intraday peak was 5,132.52.