The Federal Reserve announced a new lending program and coordinated action with global central banks to inject liquidity into credit markets. Details from Bloomberg...
The Dow Jones Industrial Average surged 417 points (3.6%) to close at 12,156, the S&P 500 Index jumped 47 points (3.7%) to 1,321, and the Nasdaq Composite spiked 86 points (4.0%) to 2,256. Crude oil gained $0.85 to $108.75 per barrel, and gold ended up $2.10 at $973.90 per ounce.
Magnificent Seven Update
