By CCN: The Dow surged by triple digits on Tuesday after Donald Trump slammed “stupid” Nobel-winning economist Paul Krugman, who continues to warn that the U.S. economy is on the brink of recession even as the stock market bounds toward record highs.

Dow Rallies Toward Record High

Just ahead of the closing bell, the Dow Jones Industrial Average had raced to a 123.91 point or 0.47 percent increase, launching the index to 26,634.96. In just five months, the DJIA has surged by a breathtaking 22 percent.

The Dow jumped by nearly 125 points on Tuesday. | Source: Yahoo Finance

The move came as President Trump took a victory lap at the expense of Nobel laureate and frequent critic Paul Krugman.

Speaking to CNBC in early April, Krugman said that China and Europe may already be in a recession and the bond market is indicating a lack of confidence in the U.S. economy.

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