Dot Com bubble
This was the collapse of a technology bubble on March 10, 2000. The Nasdaq Composite stock market index, which held numerous Internet-based businesses, peaked in value on March 10, 2000, before crashing. This was the end of excessive speculation, mainly in the US, roughly from 1995 to 2000, highlighting extreme growth in the use of the Internet.
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The bubble was caused by the massive upswing in the number of Internet-based companies, with investors weighing in heavily without cautioning as to whether such companies could turn a profit. It was almost like a mass hysteria movement which, without a solid foundation, had to collapse. Investors were terrified of not being able to cash in on the swing and abandoned all reason to the wind. Lesson learned.