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Dow Crosses 48,000 for the First Time Ever as Volatility Soars in 2025
17 Nov
Summary
- Dow Jones Industrial Average crosses 48,000 for the first time in 2025
- Volatility ranges from 300-800 points per day, a 1% change in the current market
- Dow's price-weighted structure makes it vulnerable as it nears 50,000 milestone
On November 17, 2025, the Dow Jones Industrial Average ($DOWI) has just crossed 48,000 for the first time in history. This milestone comes amidst a highly volatile market, with the Dow experiencing daily swings of 300-800 points, which now only account for around 1% of its value.
The Dow's journey to this point has been remarkable. When the author started their career in 1986, the Dow was around $1,800, and it only peaked at $2,746 in 1987, just before the infamous crash. In contrast, the Dow is now over 48,000, showcasing the immense growth the market has undergone in the past few decades.
However, the Dow's unique price-weighted structure, unlike the market capitalization-based S&P 500 and Nasdaq-100 indexes, could hinder its ability to keep pace as it approaches the 50,000 mark. This structure means that the trillion-dollar market cap stocks do not dominate the Dow as they do in other major indexes. While this has helped the Dow at times, it may now become a vulnerability as the market continues to evolve.
