The dot-com bubble was the speculative boom and subsequent stock-market crash centered on internet companies around 2000.
Investors poured money into firms associated with the World Wide Web, often assigning enormous valuations to businesses with little revenue or no profits. The Nasdaq Composite, heavily weighted toward technology companies, rose dramatically during the late 1990s and reached a peak in March 2000.
The bubble burst as investors demanded stronger business results, interest rates rose, and confidence in loss-making internet companies weakened. Many firms failed, while surviving technology companies experienced steep share-price declines. The Nasdaq continued falling after its March 2000 peak.
The crash did not mean that the internet itself lacked economic value. Companies such as Amazon and later Google built durable businesses, while many speculative ventures disappeared. The term “dot-com bubble” refers to both the boom and the collapse, whereas “dot-com crash” usually emphasizes the falling prices.