Financial Times FT.com

Wall St enjoys best one-day rise since 2002

By Chris Bryant in New York

Published: March 11 2008 13:01 | Last updated: March 11 2008 20:41

US stocks enjoyed their best one-day advance in more than five years on Tuesday after the Federal Reserve announced a $200bn plan to boost liquidity at troubled financial firms.

Banking stocks surged with financial firms chalking up gains of more than 10 per cent, as traders rushed to cover short positions. The central bank plan helped allay fears that liquidity pressures were spiralling out of control.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this