The speculative-market crash that began after the NASDAQ Composite peaked in March 2000 was the dot-com crash.
The NASDAQ Composite reached an intraday peak of 5,132.52 on March 10, 2000. Investors had driven technology and internet-company valuations to extraordinary levels, often rewarding businesses with little revenue or no profits. When expectations changed, technology shares began a prolonged collapse.
The crash was not a single day like Black Monday. It unfolded over several years, with the NASDAQ eventually losing roughly 78 percent from its peak to its October 2002 low. Many internet companies failed, while stronger firms survived and later became major businesses. The dot-com bubble is often confused with the broader 2000–02 bear market, but the term specifically emphasizes the speculative boom in internet-related equities and its reversal.