Soon after 1995, there was a computer crisis in the form of Y2K. The computers were not equipped with a date change after 2000. It was a very big crisis for the entire world which functioned and depended on the internet. So, most people thought that the dot com bubble will burst. However, as the time of the end of millennia arrived there was immense speculation on the stock prices, and this affected the performance of many stocks significantly. Several people thought that the stock market is going to collapse, but there were also some optimists who felt that everything would be fine and there would be no collapse.
Right from 1999 to the end of 2000 there was a lot of unrest in the stock markets. It came to a point where the stock market was extremely complacent. The prices of the stocks were falling consistently, and several people lost interest in stocks. The markets were performing poorly and also it led to a near financial crisis in Wall Street. Lay offs were on the increase in the stock market industry, and the effect of Y2K was felt unanimously. However, by 2001, when nothing happened and the stock market did not crash, there was a sudden upsurge in business.
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