Around the World's Markets: NEW YORK
THE DOW JONES Industrial Average ended up 330.58 points, or 4.2 per cent, at 8,299.36, its third-biggest points gain and best close since late August. In percentage terms, however, the gain did not rank in the top 100.
The rally was spurred by the surprise mid-session interest-rate cut by the US Federal Reserve, which also helped the long bond to strengthen. The Nasdaq composite was up 70 points at 1,611. The US Congress budget deal, including $18bn for the IMF, also supported the gains.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies