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Markets

Dow closes above 30,000 on Biden hopes, lifting Asia markets

Tesla's Elon Musk becomes second-richest man amid relief over presidential handover

NEW YORK -- Investors cheered the official beginning of the transition to a Joe Biden administration Tuesday, pushing the Dow Jones Industrial Average past the 30,000 threshold for the first time at closing, and making Tesla CEO Elon Musk the second-richest man in the world along the way.

The Dow closed at 30,046.24 after crossing the milestone earlier in the session. The broader S&P 500 rose 1.6% to close at 3,635.41, also a record finish.

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