The Dow Jones Industrial Average surpassed 30,000 for the first time in history.
While the stock market continued setting records practically uninterrupted under the Trump presidency, a black swan in the form of the coronavirus would ravage global markets this year.
By mid-March the markets had sold-off in response to panic from the coronavirus and economic damage from subsequent lockdowns to the point where they wiped out 100% of gains accrued during Donald Trump’s presidency. But they soon hit an inflection point and rocketed higher, fueled by loose monetary policy and massive fiscal stimulus, alongside the eventual removal of some restrictions.
The Dow peaked just above 29,500 before the pandemic slapped the economy across the face, and now less than a year later, has crossed 30,000 for the first time ever, fueled largely by vaccine optimism.
Enjoy it now people, because the stock market is going to plummet for the next four-plus years. I’m already fixing to move all my deferred compensation money out of mutual funds and placing it into a stable savings fund. I’m not letting this dementia-addled jackass lose all my hard-earned money.