The Dow surged 232 points, up 0.5%, leading the market. The S&P 500 rose by 0.3%, while the Nasdaq, up 0.3%, hit a new all-time high of 20,730.49. This marks the third consecutive record close for the index, the longest winning streak since December 4.

Earlier, all major indexes took a sharp dive before noon. Bonds and the dollar also sold off after reports suggested the president might fire the Fed chair. Trump later stated it was ‘highly unlikely,’ but did not rule it out completely.

Read more at Dow Jones & Company: Nasdaq Clinches a Record Despite Trump-Powell Drama