Which technology-heavy U.S. stock index peaked in March 2000 during the dot-com crash?

The Nasdaq Composite peaked in March 2000 during the dot-com bubble and subsequent crash.

The index was especially exposed to internet and technology companies because it contained many young, fast-growing firms. Investors had bid up shares on expectations that online businesses would rapidly dominate commerce, media, and communication. Many companies had little revenue, no profits, or business plans that depended on continuing access to cheap capital.

The Nasdaq Composite reached an intraday peak of 5,132.52 on March 10, 2000. It then fell sharply as investors reassessed valuations, interest rates rose, and numerous technology companies failed to meet expectations. By October 2002, the index had lost about 78% from its peak.

The crash did not mean that the internet lacked economic importance. Companies such as Amazon and other survivors eventually grew substantially, but the market had valued many businesses far beyond what their earnings could justify. The Nasdaq later surpassed its 2000 peak in 2015.