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The Dow Jones Industrial Average hit 50000 for the first time on Friday, the latest milestone in a yearslong run in which the U.S. economy has muscled past its rich peers and snapped up investment the world over.
Since the blue-chip index plunged below 6600 during the depths of the 2007-09 recession, it has effectively moved in one direction on the flickering screens of Wall Street: up and to the right. Bouts of trading turmoil that periodically upended the Dow now seem like speed bumps in America’s rearview mirror.
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