10th March 2000: The NASDAQ index peaked at the height of the dot-com bubble



hello and welcome to history pod on the 10th of March 2000 the Nasdaq Composite stock market index peaked at the height of the dot-com bubble the economic bubble that is also referred to as the dot-com boom was the result of investors speculatively pouring money into the numerous internet companies that were founded in the mid to late 1990s the exponential growth witnessed by the stock market was primarily based on overconfidence in new online businesses many of which had a calm suffix a large number of these companies raised enormous funds by selling shares in initial public offerings despite the fact that some of them had not even begun to generate income let alone make a profit driven by a mixture of private investors and venture capitalists both of whom hoped to make massive gains from the rapid growth of the Internet the stock value of many of the neucom companies increased exponentially however the party couldn't last and the market quickly declined after the Nasdaq Composite Index which includes many technology companies peaked at 5100 32.5 – during trading on the 10th of March 2000 around this time some of the companies began to report huge losses this bad news combined with large sell orders of stocks by some of the larger tech companies led to panic selling that made the stock market lose 10% of its value within just a few weeks without access to previously abundant capital of the company soon folded bursting the dot-com bubble the crisis was exacerbated by stock market downturns following the September 11th attacks of 2001 yet despite the broader collapse in the tech sector a number of companies including Amazon eBay and Google managed not only to survive but to flourish you

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