Which 2000–2002 crash followed the collapse of technology-stock valuations?

The 2000–2002 collapse of technology-stock valuations was the Dot-com crash.

During the late 1990s, enthusiasm for the commercial internet pushed many technology and communications shares to extraordinary prices. Investors often valued companies on anticipated future growth rather than current profits, and many newly listed firms had limited revenue or no sustainable business model. The Nasdaq Composite reached an intraday peak of 5,132.52 on March 10, 2000.

After sentiment changed, technology shares fell sharply. The Nasdaq lost roughly 78 percent of its value from its peak to its October 2002 low. Numerous internet companies closed, merged, or radically reduced operations, while surviving businesses faced more cautious financing and realistic revenue expectations.

The crash did not mean that the internet lacked economic value. Companies such as Amazon and eBay survived the collapse and later expanded substantially. A common error is to call every technology decline a dot-com crash; the term specifically refers to the bursting of the late-1990s internet-stock bubble and its market aftermath.