The Dow Jones industrial average jumped more than 300 points in early trading today on top of yesterday’s historic 936-point gain. Wall Street surged again today as investors reacted enthusiastically to the U.S. government’s plans to spend $250 billion to buy stock in private banks.
President Bush said Friday that the government’s financial rescue plan was aggressive enough and big enough to work, but would take time to fully kick in. “We can solve this crisis and we will,” he said in brief remarks from the White House Rose Garden.
Federal Reserve Chairman Ben Bernanke warned Tuesday that the financial crisis has not only darkened the country’s current economic performance but also could prolong the pain.
Wall Street is moderately higher in early trading, with investors encouraged by a Federal Reserve plan to buy massive amounts of short-term debt from companies.
The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy.
Wall Street suffered through another traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points and setting a new record for a one-day point drop as investors despaired that the credit crisis would take a heavy toll around the world.
With the economy on the brink and elections looming, Congress approved an unprecedented $700 billion government bailout of the battered financial industry on Friday and sent it to President Bush for his certain signature.
NewsOne.com is definitely the place to get your breaking news and share with others in your community. BlackPlanet members also like to share news they feel is important and I am taking this opportunity to share something interesting I have learned from them this week. This submission by Khazeem titled “Does this make sense???” simplifies […]
