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télécoms - translation to English
Definition
Wikipedia
The Telecoms crash, also known as the Telecommunications Bubble was a stock market crash that occurred in 2001, after the bursting of the dot-com bubble.
The telecommunications industry had experienced significant growth and investment during the 1990s, fueled by the expansion of the internet and the introduction of wireless technology. Companies such as WorldCom, Global Crossing, and Lucent Technologies had achieved enormous market valuations based on expectations of continued growth and profitability. By the late 1990s, the industry had become overvalued and highly leveraged. Many companies had taken on substantial debt to finance their expansion, and investors had poured billions of dollars into the sector based on unrealistic expectations of growth and profitability.
The crash had an impact on the global economy, and resulted in a sharp decline in the value of telecommunications related stocks and bonds, leading to significant financial losses for investors, widespread job losses and decline in consumer spending, and eventually leading to the collapse of many companies.
It was called "the biggest and fastest rise and fall in business history".
