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In March 2000, the dot-com bubble began to burst, leading to significant declines in the Stock Market, particularly affecting technology and internet-based companies. The NASDAQ Composite index, which had reached record highs in 1999, started to see substantial drops in value. This downturn marked the beginning of a prolonged recession for the tech sector, impacting many businesses and investors. Additionally, significant events included the announcement of the PlayStation 2's release in Japan, which generated considerable excitement in the gaming industry.

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