MARCH 2001 – NOVEMBER 2001 (8 Months)
The Early 2000s recession took place in the U.S. for a number of different reasons. One was the collapse of the dot.com bubble. A false high, created in the initial, money-making wave of the internet that swept the world, finally came crashing down to a realistic level.
Also, the September 11th attacks made against the Pentagon and the World Trade Center Towers caused a huge stir among Americans. Although Americans rallied and stayed positive through the whole thing, the economy took a hit as people stopped spending money.