You’re probably going to hear/read about this a million times before the dust settles, but today the Dow Jones Industrial Average closed above 12, 000 for the first time ever. For those of you that are into this sort of thing, the actual closing value was 12, 011.73. This is the ninth record close in just over two weeks.
As it turns out, today is also the 19th anniversary of Black Monday (October 19th, 1987), when the Dow crashed 587 points to close at 1793.90 — a loss of just under 25% in one day.
For the sake of comparison, the NASDAQ closed at 2340.94, 53.6% below its record high close of 5048.62 on March 10, 2000. Can you say “dot bomb”?