About 22 years ago—March 20, 2000, to be exact—the dot-com boom peaked with the Nasdaq hitting 5,048. Hundreds of once-darling internet companies would soon evaporate, including Pets.com, Webvan, eToys, and DrKoop.com. By October 2002, the Nasdaq bottomed out at 1,139, a staggering 77% drop.
With the tech-heavy Nasdaq down around 28% so far this year, many investors worry that they’re seeing a replay today, but that’s far from clear. Since the financial crisis, the tech sector has proven quite resilient.
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