The Nasdaq Composite reached its dot-com-era peak on March 10, 2000, before the dot-com crash deepened.
The index closed at 5,048.62 on that date. The Nasdaq Composite contains thousands of companies listed on the Nasdaq exchange and has a large technology component, making it a prominent measure of the late-1990s enthusiasm for internet and technology shares.
Many companies with little or no profit received extremely high valuations during the boom. When expectations changed, investors sold heavily, venture funding became harder to obtain, and numerous internet businesses failed or were acquired. The Nasdaq then lost a large share of its value over the following years.
The index's 2000 peak should not be confused with the S&P 500's separate March 2000 peak or with the later 2008 financial crisis. The phrase dot-com crash describes a prolonged decline, not just one trading session.