Which U.S. technology exchange fell about 78% from its 2000 peak during the dot-com crash?

The NASDAQ Composite fell about 78% from its March 2000 peak during the dot-com crash.

The index reached an intraday high of 5,132.52 on March 10, 2000, after years of enthusiasm for internet companies. Investors often valued firms according to website traffic, projected growth, or a promising business model rather than established profits. Venture funding and initial public offerings helped fuel the boom.

As expectations changed, many companies could not generate enough revenue to justify their valuations. The NASDAQ then declined steeply, and the downturn continued after the September 11 attacks and amid a broader economic slowdown. The index reached a major low in October 2002.

The crash did not mean that the internet lacked commercial value. Companies with durable technology, advertising, e-commerce, and infrastructure businesses eventually became extremely important. The episode instead demonstrated that a transformative technology can coexist with unsustainable prices and weak investment discipline.