PARIS: The major stock exchanges in New York followed Europe and Asia higher Monday morning, inspired by efforts over the weekend to reassure investors that governments would act to restore confidence in the financial system. The Dow Jones industrial average was up 5 percent or about 422 points in early trading. The broader Standard & Poor's 500-stock index was also up 5 percent. Shares in Europe and Asia also moved higher after European leaders announced plans to inject new capital into troubled financial institutions and guarantee interbank lending, and central banks announced new measures aimed at restarting frozen credit markets. And in Washington, Neel Kashkari, assistant Treasury secretary for financial stability, and brand-new overseer of the $700 billion bailout, outlined the administration's plan for tackling the financial crisis.
PARIS: The major stock exchanges in New York followed Europe and Asia higher Monday morning, inspired by efforts over the weekend to reassure investors that governments would act to restore confidence in the financial system.
The Dow Jones industrial average was up 5 percent or about 422 points in early trading. The broader Standard & Poor's 500-stock index was also up 5 percent.
Shares in Europe and Asia also moved higher after European leaders announced plans to inject new capital into troubled financial institutions and guarantee interbank lending, and central banks announced new measures aimed at restarting frozen credit markets.
And in Washington, Neel Kashkari, assistant Treasury secretary for financial stability, and brand-new overseer of the $700 billion bailout, outlined the administration's plan for tackling the financial crisis.
Can´t help the (deja vu) laughter of October 87... because gamers haven´t learned a thing. Our knowledge has surpassed our wisdom. -Charu Saxena.
