Which U.S. stock-market crash began after the dot-com boom peaked in March 2000?

The U.S. stock-market crash that followed the dot-com boom’s March 2000 peak was the Dot-com crash.

The technology-heavy Nasdaq Composite reached 5,048.62 on 10 March 2000. Many internet companies had attracted enormous valuations despite limited revenue, continuing losses, or untested business models. Investors increasingly questioned whether projected growth could justify those prices.

The Nasdaq then fell sharply as enthusiasm turned into selling. The decline continued for years, and by October 2002 the index had lost roughly 78 percent from its peak. Numerous startups failed, while surviving technology companies faced layoffs, cancelled expansion plans, and tighter financing.

The dot-com crash is often confused with the 2008 financial crisis. The earlier crash centered on technology-stock valuations and internet-company speculation; the 2008 crisis centered on housing finance, mortgage-linked securities, and banking-system stress. Some major internet businesses ultimately survived and became highly profitable, showing that the crash did not disprove the long-term importance of the internet.