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Stocks Surge on Action by Central Banks
Posted By kurtnimmo On November 30, 2011 @ 12:17 pm In Global Crisis | Comments Disabled
The New York Times
November 30, 2011
Stocks in the United States surged nearly 4 percent on Wednesday, with the Dow Jones industrial average up more than 400 points, after central banks took action to address growing concern about the debt crisis in the euro zone.
The Federal Reserve, the Bank of England, the European Central Bank, the Bank of Japan, the Bank of Canada and the Swiss National Bank all moved to bolster financial markets by increasing the availability of dollars outside the United States.
The jump in stocks was an extension of the turmoil and volatility that have weighed on global markets concerned about sovereign debt pressures in Europe for more than a year.
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