Dot-Com Bubble Peaks Out
The NASDAQ Composite Index reaches 5,048.62 which becomes the peak of the Dot-Com Bubble. Since 1995, led by the growth of the Internet, e-commerce, and all the infrastructure required to support it, the NASDAQ had risen by 400%. After reaching this peak many factors led to the rapid bursting of the bubble over the course of the next several months in which many online and technology companies shut down, were acquired, or lost large portions of their value. By October 2002 the NASDAQ had fallen 78% losing virtually all its gains during the Dot-Com Bubble.