Markets
US stocks rise on hopes of EU bank plan
WASHINGTON : US stocks surged for a second day on Wednesday on signs that Europe was preparing a plan to contain the
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WASHINGTON: US stocks surged for a second day on Wednesday on signs that Europe was preparing a plan to contain the Greek crisis and protect the region's banks from the effects of a Greek debt default.
The Dow Jones Industrial Average was up 131.24 (1.21 percent) to 10,939.95 in closing trade.
The broader S&P 500 added 20.07 (1.79 percent) to 1,144.03, while the tech-heavy Nasdaq Composite rose 55.69 (2.32 percent) to 2,460.51.
The surge came after Europe's main markets added from three percent to nearly five percent on expectations that EU leaders were close to agreement on how to deal with the eurozone sovereign debt crisis.
Copyright AFP (Agence France-Presse), 2011
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