Wall Street soars as government pledges bank aid

(AP) - Wall Street has stormed back from last week'sdevastating losses, sending the Dow Jones industrials soaring anearly inconceivable 938 points after major governments' plans

NEW YORK - (AP) - Wall Street has stormed back from last week'sdevastating losses, sending the Dow Jones industrials soaring anearly inconceivable 938 points after major governments' plans tosupport the global banking system reassured distraught investors.

The Dow by far outstripped its previous record for a one-daypoint gain, 499, reached during the waning days of the dot-com boomin 2000.

The market was likely to have a rebound after eight days ofprecipitous losses that took the Dow down nearly 2,400 points, butno one expected this kind of advance. Still, back-and-forth tradingis likely to continue as Wall Street still contends with a crippledfinancial system and a struggling economy. So some of Monday's biggains may disappear when trading resumes Tuesday.

The Dow is up about 938 points at the 9,389 level. All the majorindexes are up more than 11 percent.

advertisement | advertise on News 12

Trending Video

Crews worked Thursday to recover the wreckage of 1 Crews recover East Haven plane wreckage; victims identified
2 Connecticut Sportscast, Feb. 23
Weston Animal Control officers say a small family 3 Coyote attacks small dog in Weston
We asked Bronx residents if they believe in 4 Word on the Street: Extraterrestrial life
Police say a red pickup truck was speeding 5 Police: 2 killed, 1 injured in Stamford crash

advertisement | advertise on News 12

Features

Focus on Connecticut Focus on Connecticut

Features local, state and federal officials discussing the issues around southwestern Connecticut.

Celebrates African-American culture in southwestern Connecticut. Our Lives

Celebrates African-American culture in southwestern Connecticut.

Each week News 12 Connecticut introduces you to Hometown Hero

News 12 highlights people who give to the community.

We spotlight a local team each week. Connecticut Team of the Week

Each week News 12 Connecticut highlights a team from a local school.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE