The Dow Jones Industrial Average hit an all-time intraday high of 18,873.6 Thursday, the day after Donald Trump was elected president.

The Dow average also hit an all-time high before the closing bell Wednesday. The Nasdaq composite underperformed Thursday and was down .3 percent two hours after noon and the S&P 500 is up about 4 points.

Liberal economists like Paul Krugman had anticipated that a Trump election would be disastrous for the markets. Initially, Tuesday night they were plunging but surged on Wednesday.

Krugman said Tuesday night, “If the question is when markets will recover, a first-pass answer is never.”

Krugman was wrong.