S&P 500, Nasdaq close at record highs making up lost ground from 2018 nosedive

Nasdaq.
(Image credit: Kena Betancur/Getty Images)

The stock market has completed its comeback.

The S&P 500 and the Nasdaq Composite closed at record highs on Tuesday, The Associated Press reports. The former rose 0.9 percent, with the new peak — which surpassed a mark set in September 2018 — coming just months after the markets rapidly plunged on Christmas Eve last year and making up all the lost ground. The Nasdaq climbed 1.3 percent to shatter its previous high set in August 2018. Both markets were coming off long stretches without a record, after bottoming out down nearly 20% at the end of the year.

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.