The dot-com bubble was a financial trend in the late 1990s that involved many stock markets riding on the successes of Internet businesses and other industries that related to it. Various new businesses were formed online. The NASDAQ even exceeded 5000 on some days. Massive sell orders for many high-value stocks in the Internet sector, and declined business spending following the Y2K switchover caused this bubble to burst. As a result the NASDAQ plummeted in value and has yet to reach its bubble-era value while many online businesses went out of business.