The DotCom Bubble in California occurred from 1997-2000 and was marked by the rapid founding and speculative public stock listings of many new Internet companies. The NASDAQ index peaked in March 2000 before losing half its value by the end of the year as the bubble burst. As the bubble deflated in 2001, many dotcom companies stopped trading or failed altogether. The bubble's bursting led to an economic recession in the US and other countries in the early 2000s and demonstrated how overestimation and speculation can cause market collapses.