Wall Street went bargain-hunting for opportunities with a general price increase, closing at above 10%.
The Dow Jones index closed at 9.065 points, gaining 889 points (10.88%), while Standard & Poor's 500 closed in 940.51 points, with a reported gain of 91.5 points (10.79%). The Nasdaq closed at 1,649.67 points, gaining 143 points (9.53%).
The Dow Jones industrial average opened 400 points higher and never looked back, led by big gains in financial stocks.
Last week’s stock sell-off gave way to a big rally, with the Dow Jones industrial average having its largest-ever point gain. The surge came as countries around the world took steps to ease the financial crisis, ushering in a drastic reshaping of the banking industry even as doubts lingered about its long-term effects.
On Friday, the Dow closed down about 100 points, its eighth consecutive decline.
Between the start and the finish was a day in which the Dow Jones industrial average swung 1,000 points and a wild final hour in which the market moved from almost 400 points down to 300 points higher, only to close down 128 points or 1.4 percent.
The broader Standard & Poor’s 500-stock index fell 10.70 points or 1.1 percent. The technology heavy Nasdaq finished slightly higher.
A late-day decline once again pushed the markets down sharply, with the Dow falling more than 600 points.
The Dow Jones industrial average lost 678.91 points, or 7.3 percent, on the day, while the broader Standard & Poor’s 500-stock index ended down 7.6 percent. The technology-heavy Nasdaq was down 5.47 percent.
Panic came to Wall Street on Monday morning, but its stay was brief, at least for one day.
The Dow Jones industrials finished more than 360 points lower, dropping below the 10,000 mark for the first time in five years, as markets around the world spiraled downward in the face of a banking crisis that has tightened its grip on the global economy.
At 1:21 p.m., applause and cheers echoed through the House chamber as the number of “aye” votes crossed the threshold needed for passage with just seconds remaining in the official 15-minute voting period.
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