Stocks Get Boost
Source: Agencies |
December 1, 2011, Thursday
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Print Edition
Print Edition
US stocks soared yesterday morning after major central banks acted together to support the global financial system by cutting short-term borrowing rates.
The Dow Jones industrial average jumped more than 400 points in early trading, and was up 392 hour after the opening bell.
The central banks of Europe, the US, Britain, Canada, Japan and Switzerland eased banks' access to dollars by reducing their borrowing rates. Banks need dollars to fund their daily operations.
The Dow Jones industrial average jumped more than 400 points in early trading, and was up 392 hour after the opening bell.
The central banks of Europe, the US, Britain, Canada, Japan and Switzerland eased banks' access to dollars by reducing their borrowing rates. Banks need dollars to fund their daily operations.
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