Dow Surges 900 Points On Unprecedented Global Financial Fix-Up

The Dow rose more than 900 points today on hopes new initiates to bolster the global financial systems will have a meaningful impact on unfreezing the credit markets and warding off a colossal economic slowdown. Today's upswing is the largest in 75 years, but follows what was arguably the worst week in stock market history, with the Dow and other world wide stock indexes selling-off 18% or more.

The Dow finished the day up 936 points, or 11%, to 9388. The Nasdaq rose 195 points, or 11.8%, and the S&P 500 rose 104 points or 11.6%.

Today, the U.S Treasury and the Federal Reserve are meeting with leading financial market participants to finalize details on a financial market stabilization initiative.

This morning, the Federal Reserve said swap lines between the Federal Reserve and the Bank of England , the European Central Bank, and the Swiss National Bank will be increased to accommodate whatever quantity of U.S. dollar funding is demanded.

Embattled investment bank Morgan Stanley (NYSE: MS) rose an incredible 87% today after the company closed the much-anticipated $9 billion investment from Mitsubishi UFJ Financial.

You May Also Be Interested In

• First Industrial Realty Trust (FR) PT Raised to $73 at Truist Securities
• Raymond James Downgrades Wix.com (WIX) to Outperform
• Nscale agrees to acquire AI platform company Anyscale