In April 2025, as U.S. stock markets were melting down in reaction to Donald Trump’s so-called Liberation Day edicts, the president’s top adviser on tariffs, Peter Navarro, proclaimed that not only would markets rebound but that the Dow Jones Industrial Average also would soar past 50,000 points.
Listening to Navarro at the time, I resisted the urge to roll my eyes like a 12-year-old. Since I’m a semi-functional adult, I instead muttered: “Yeah, right.”
It turns out I was (happily) wrong and Navarro was right, much to the relief of the 62% of American adults who own stocks.
The Dow not only closed past the 50,000-point milestone for the first time in history on Feb. 6, but the Dow, S&P 500 and Nasdaq indexes have each gained more than 10% in the past year.
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