2001 or 2000?
I recall that the DOJ sued Microsoft over Internet Explorer that set off a huge Nasdaq selloff, but that was in March 2000 while Clinton was POTUS, not 2001.
Correct answer. ThanQs!
Yes, after 6 raging years, much of it based on massively accelerated revenues from Y2k spending, tech stocks fall 80% collectively in less than one year. The decline starts almost as soon as y2k has passed with a whimper. This also drags down the entire “growth” sector of the market, but value stocks finish actually with impressive gains for the year 2000.
Next question, WHY did these stocks fall so much? 2 primary reasons I’m looking for...
So, what happened of major global consequence in March of 2001?
I think you mean 2000 not 3001.
On March 10, 2000, the NASDAQ composite index peaked at 5132, the end of the dot-com boom.