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Dow: Then and now A look at how the economy and markets have changed since the last time the blue-chip index hit its record. NEW YORK (CNNMoney.com) -- The blue-chip Dow Jones industrial average rose to its highest level Tuesday, breaking a record more than 6-1/2 years old. The last time the record was hit, Jan. 14, 2000, technology was the darling of the stock market - and the dot.com bubble was on the brink of bursting and sending the economy into a recession. Tech still hasn't fully recovered - the Nasdaq is nowhere near where it was then - but this time around, the economy looks more stable. It's still growing, although at a much slower pace than in previous quarters, and corporate profits remain upbeat. But the economy isn't out of the clear just yet. Several economists are worried that the unwinding of the housing boom could bring the nation's economy in for a so-called "hard landing."
Sources: Fed, Commerce Dept., National Association for Business Economics, National Association of Realtors, Freddie Mac, Cardweb.com, Census Bureau, Energy Information Administration, New York Mercantile Exchange, Forbes
*Adjusted for stock splits and dividends New worry: A hard 'soft landing' A big day for the Dow |
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