Trump hails administration, public as Dow Jones Index crosses historic 30,000 point level

US President Donald Trump on Tuesday, November 24 (local time) congratulated his administration and the public as the Dow Jones Industrial Average index crossed a historic 30,000 mark for the first time. Trump made an appearance in the White House briefing room to announce the Dow Jones achievement and the development on the COVID-19 vaccine front. He left the room soon after the address without taking any questions from the reporters.

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'30,000-number mark is sacred'

" I just want to congratulate everybody the stock market Dow Jones Industrial Average index crossed just hit 30,000 which is the highest in history. I am thrilled with what has happened on the vaccine front; that has been absolutely incredible. Nothing like that has happened before. People are starting to acknowledge this," Trump said at the briefing.

Trump further said that the 30,000-number mark is a sacred number and nobody thought that they would ever see it. Adding further, he said it was the ninth time since the beginning of this year and 48 times during his tenure that 'we have broken records'.

The US President's briefing came after he tweeted his approval of his government beginning the transition process for President-elect Joe Biden which many observers saw as the 'closest he is likely to come to conceding defeat', according to a report by The Hill. Furthermore, Trump on Monday said that he recommended the General Services Administration (GSA) head Emily Murphy and her team to follow initial protocol with regard to his opponent Joe Biden's transition while adding that he would keep up the fight against the alleged voter fraud in the Presidential elections.

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Dow gains 60% more since March

Meanwhile, the Dow has gained more than 60 percent since hitting its low for the year in March, according to a report by Nikkei Asia.

The stock market index was up 1.4 percent at 30,012 points on the New York Stock Exchange at 11.41 am and S&P 500- a barometer for the top 500 US stocks on the New York Stock Exchange, also increased to 1.4 percent i.e 3,628, according to reports. Further, the Nasdaq Composite Index, which counts on the performance of the US tech stock giants such as Facebook, Apple, Netflix, Amazon and Google, raised almost 1 percent to 11,992.

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(With ANI inputs; Image-AP)