14 October 2008

Up 11.1 percent? Of course it was

The Mercury News has the good news about the stock market:
Reversing its steep decline from the previous week, Wall Street rebounded like a bungee jumper Monday, soaring more than 11 percent as major governments moved to commit trillions of dollars into plans to stabilize the ailing global banking system and unlock credit markets.
The Dow Jones industrial average rose a record 936.42 points to 9,387.61, up 11.1 percent, and was outperformed by the 11.8 percent gain for the technology-heavy Nasdaq and the 11.6 percent rise for the broad Standard & Poor's 500. All of those gains were among the largest percentage jumps for the indexes in their history, and the biggest in more than 70 years for the Dow and the S&P (the Nasdaq, which did not exist until 1971, posted a bigger one-day gain in 2001).
In Japan today, the Nikkei 225 stock average skyrocketed more than 14 percent, its biggest gain ever, after the markets there were closed Monday for a holiday.

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