Dow closes at new record despite rioters’ attack on Capitol

Stock markets on Wednesday closed at new highs even as swarms of armed rioters mobbed the Capitol, interrupting Congress’s certification of President-elect Joe Biden’s electoral win.

The Dow Jones Industrial Average closed up 438 points, or 1.4 percent, to a new record of 30,829. The S&P 500 gained 21 points, or 0.6 percent, closing just shy of its previous record, while the tech-heavy NASDAQ dropped 78 points, or 0.6 percent.

Markets appeared unmoved by the crowds’ successful breach of the Capitol and unprecedented interruption of the nation’s process of peacefully transferring power.

The intrusion by supporters of President Trump forced lawmakers and their staffs to shelter in place.

Markets rose earlier in the day on news that Democrats would take control of the Senate following two victories in Tuesday’s runoff elections in Georgia.

With a clean sweep, Democrats are more likely to pass larger stimulus and COVID-19 relief, which would boost the economy. Big companies could also see tax increases, which would eat into their profitability.

Markets remained frothy after the morning’s bounce, even as pro-Trump demonstrations turned violent.