11- 2001: The dot com bubble burst

March 2000 – Oct 2002: 2001 recession, 2002 slow recovery
2003 to 2007 schronized global growth at a fast pace.

From the 2000 peak to 2002 trough, S&P 500 profits fell 84%. 2003 started to bounce, 15% in 03, 19% in 04 and 29% in 06.

From 1991 to 2000, the U.S. experienced 37 quarters of economic expansion, the longest period of expansion on record.

Main article: List of recessions in the United States
According to economists, since 1854, the U.S.A. has encountered 32 cycles of expansions and contractions, with an average of 17 months of contraction and 38 months of expansion. However, since 1980 there have been only eight periods of negative economic growth over one fiscal quarter or more, and three periods considered recessions:

January-July 1980 and July 1981-November 1982: 2 years total
July 1990-March 1991: 8 months
November 2001-November 2002: 12 months

2000 Fed starts to cut interest rate.