Stocks rally as governments intervene

October 13, 2008 02:28PM

The stock market rallied today, with the Dow Jones Industrial
Average posting an increase after an eight-day decline, as governments
around the world took action to put capital back into banks. European
Union countries agreed to guarantee loans between banks through next
year and to allow governments to buy stock in distressed companies.
Britain promised $63 billion to three banks. Indexes in Europe and Asia all traded higher after these measures were announced.


Comments are closed.