Moments after the opening bell rang at the New York Stock Exchange on Tuesday, the Dow Jones Industrial Average busted through its all-time high water mark. Monday's closing figure of 14,127.82 was less than 40 points shy of the record closing mark of 14,164.53, but pre-market trading on Tuesday morning helped the Dow surge past both the record closing mark and its intraday high of 14,198.10, eventually breaking through 14,200.
Obviously, the day is young and a lot could happen, but the symbolic victory means that the index has finally erased the losses it suffered during the Great Recession that began in 2008. The previous record was set on October 9, 2007. The intraday high (which is the highest its ever reached during any trading session) was set two days later before falling back by the end of the day. Within a year and a half (March 2009), the Dow had lost half its value, plummeting down below 6,500, its lowest mark this century. Now the stock market if officially back, even if the rest of the economy (hello, sequester!) isn't.
This article is from the archive of our partner The Wire.
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