The Dot-com bubble peaks with the NASDAQ Composite stock market index reaching 5,048.62.
The Dot-com bubble was a period of excessive speculation in Internet-related companies and their stocks in the late 1990s and early 2000s. During this time, many investors were pouring large amounts of money into companies that had little or no earnings, but were expected to become profitable in the future. The rapid growth of the Internet, combined with the excitement and hype surrounding new technologies, fueled this speculative fervor.
As more and more investors piled into these companies, their stock prices soared to unprecedented levels, often far beyond their intrinsic value. However, the bubble eventually burst in the early 2000s, as many of these companies failed to meet expectations and the market corrected itself. This led to a widespread market downturn and many of the companies that were previously highly valued lost much of their worth, resulting in large losses for investors.
The Dot-com bubble was a significant event in the history of the stock market and serves as a reminder of the potential dangers of excessive speculation and hype.