The Nasdaq Composite was the U.S. technology-heavy stock index that peaked in March 2000 before the dot-com crash.
The index reached an intraday high of 5,132.52 on March 10, 2000. The peak marked the culmination of the dot-com bubble, a period when internet and technology companies attracted enormous investment despite many having little revenue, no profits, or unproven business models.
After the peak, technology shares fell sharply. The Nasdaq Composite lost about 78% of its value by October 2002, when it reached a low near 1,108. The decline damaged investors, employees, venture-backed companies, and telecommunications firms that had expanded rapidly during the boom. Some prominent businesses failed, while a smaller group of companies survived and later became major technology firms.
The Nasdaq is often described as a technology index, but it includes companies from many sectors and is not limited exclusively to internet businesses. The dot-com crash also affected broader U.S. indexes, although technology shares experienced the most dramatic losses.