Wall Street soars as government pledges bank aid »
Posted By STONERS 8 months, 4 weeks ago in Business & FinanceWall Street snapped back Monday from last week's devastating losses after major governments announced further steps to support the global banking system, including plans by the U.S. Treasury to buy stocks of some banks. All the major indexes rose well over 5 percent, and the Dow Jones industrials gained nearly 480 points.
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STONERS8 months, 4 weeks ago
"The hope on the Street was that the market was finding some footing after eight sessions of devastating losses that sent the Dow down nearly 2,400 points. But while a rebound had been expected at some point, Wall Street can expect to see volatile, back-and-forth trading in the coming days and weeks as investors work through their concerns about the banking sector, the stagnant credit markets and the overall economy."
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