Wednesday February 19, 2020

Don’t be deceived by the Dow’s record run: this time is not different

The world economy may be on an unprecedented roll, but there are reasons to be cautious including the trade war between the US and China, Brexit and climate change

1st December, 2019
US stocks are poised this year for their best performance since 2013. Picture: Getty

A few months before the financial crash of 2008, an American investor named Robert Zuccaro predicted that the Dow Jones Industrial Average would soon reach the magic level of 30,000.

At the time, the Dow was trading at 11,500, so the prediction was optimistic. Still, markets had rebounded from the dotcom bust and the 9/11 terrorist attacks, and investors were in thrall to the belief that technology was remaking the global economy in market-friendly ways.

Then the world was...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The US economy shows no immediate signs of slowing down, but the acceleration of deficit spending is starting to become a worry

Vincent Boland | 3 days ago

While we owe its people our solidarity and support, we are also reliant on the transparency and accountability of China’s Communist Party

Vincent Boland | 1 week ago

Irish politicians and officials must face the fact that our relationship with the EU will be more complicated now that Britain has left

Vincent Boland | 2 weeks ago