The Nasdaq Composite peaked at 5,048.62 on 10 March 2000 before the dot-com crash.
The index was heavily associated with internet and technology companies, many of which had risen rapidly despite limited profits or untested business models. Venture capital, optimistic forecasts, online trading, and abundant investment enthusiasm helped fuel the boom.
After the peak, the Nasdaq Composite fell sharply as investors reassessed technology valuations. By October 2002, it had lost roughly 78% from its high. Some companies disappeared, while survivors later became major businesses.
The Nasdaq Composite is broader than the Nasdaq-100: it includes thousands of companies listed on the Nasdaq exchange, while the Nasdaq-100 tracks 100 large non-financial companies. That distinction makes the Composite the specific index associated with the 5,048.62 record.