US stocks bounce back after news of European Union bank plan
NEW YORK—US stocks bounced back after dramatic see-saw session Tuesday following a report that EU ministers were looking at possible plans to aid weak banks.
After having been down two percent 45 minutes before the close, the Dow Jones Industrial Average ended 152.88 points higher (1.43 percent) at 10,808.18.
The broader S&P 500 jumped 24.60 (2.24 percent) to 1,123.83, while the tech-heavy Nasdaq Composite added 68.99 points (2.95 percent) to 2,404.82.
Analysts said markets got the last-hour bump from a Financial Times report that, after a morning when French and Belgian regulators rushed to shore up troubled Dexia bank, European officials were studying plans for helping banks at risk if Greece defaults on its debt.
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