The eight-day losing streak ends Monday after central banks and governments announced measures to bolster the global financial system.
At the close Monday (October 13th), the Dow Jones industrial average soared 936.42 points, or 11.08%, to 9,387.61 — the biggest point gain ever. The S&P 500 index climbed 104.13 points, or 11.58%, to 1,003.35, boosted by shares of investment banking and brokerages and auto manufacturers. The Nasdaq composite index rose 194.74 points, or 11.81%, to 1,844.25.
Furthrmore, equities and currencies in Asia, Latin America, Europe and the Middle East rallied Monday as well. Rebounding from last week’s steep losses after governments around the world laid out measures in response to the global financial crisis, boosting risk appetite and investor sentiment.
A round up of the global turmoil around the world can be found here.
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