By Travis Gillmore
Contributing Writer
Equity markets rallied Friday as the Dow Jones Industrial Average crossed the 50,000 threshold at 2:30 p.m. ET for the first time ever.
President Donald Trump celebrated the news with a Truth Social post.
“Congratulations America!” Trump wrote in all caps.
The Dow spiked more than 1,000 points, totaling about 2.3%, while the tech-heavy NASDAQ climbed approximately 1.9%, slightly higher than the S&P 500’s 1.75% gain.
The new milestone for the blue-chip index came 14 months after first topping 40,000 in May 2024, marking the fastest climb between 10,000-point landmarks, according to historical data.
The moves follow three days of heavy selling across markets amid a cryptocurrency crash and heavy pressure on technology stocks.
Precious metals joined the lot of volatile assets, with silver plummeting approximately 30% from its peak.
Gold fell from its high of about $5,600 per troy ounce to slightly more than $4,500 on Monday before rebounding to nearly $5,000 on Friday.
