Which U.S. stock-market crash began after the 2000 technology bubble burst?

The Dot-com crash began after the 2000 technology bubble burst. It followed years of rapidly rising valuations for internet and technology companies, many of which had limited revenue or no profits.

The Nasdaq Composite reached its peak on March 10, 2000. Investors then reassessed technology-company valuations as interest rates, competition, and concerns about sustainable business models increased. The index fell steeply over the following years, while many internet startups failed or were acquired.

The crash is often described as the bursting of the dot-com bubble rather than a single trading-day event. It affected venture capital, technology employment, corporate investment, and household portfolios. Established companies also suffered, although firms with strong finances generally survived better than speculative startups.

The Dot-com crash is distinct from the 2008 financial crisis. The earlier collapse centered on technology valuations and internet businesses, whereas the later crisis was driven largely by housing finance, mortgage securities, and banking-system stress.