The market crash that followed the collapse of the technology-heavy dot-com bubble was the dot-com crash.
The bubble formed during the late 1990s as investors bid up internet and technology companies. Many businesses had little revenue or no profits, yet their share prices rose on expectations of rapid online growth. The Nasdaq Composite reached a peak of 5,048.62 on March 10, 2000.
After confidence weakened, technology shares plunged. The Nasdaq lost roughly 78% of its value from its peak to its October 2002 low. Many startups failed, while surviving companies faced layoffs, shrinking investment, and much more demanding standards for profitability.
The dot-com crash is not the same as the 2008 financial crisis. The earlier episode centered on technology-stock valuations and venture investment, whereas the later crisis involved housing finance, mortgage securities, and major banking failures.