500 Points in a Day?
NEW YORK (CNNMoney) — Investors around the world raced to scoop up stocks on Wednesday, after the Federal Reserve said it will work with other central banks to support the global economy.
All three major stock indexes closed the day up more than 4%, but only the Dow managed to move into positive territory for the year and the month.
The central banks’ coordinated market intervention gave investors hope that world leaders could take necessary steps to avoid a credit crunch or market paralysis stemming from Europe’s sovereign debt crisis.
As a wise man said to me, contrary to conservative beliefs about letting the markets do what they do and ceasing regulation entirely, with even just a hint of confidence investors will suck up stocks like a Hoover. [Link]
Posted: December 1st, 2011
at 9:36am by Black Ock
Tagged with stocks, global markets
Categories: too good to be true,business
Comments: No comments