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Stocks Surge Following Fed Interest Cut
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Posted on
Mar 19 2008 12:39 AM
by
adeal
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Stock investors redoubled their efforts near the end of trading Tuesday after the Federal Reserve cut a key interest rate by three-quarters of a percentage point. The Dow Jones Industrial Average soared 420 points, its largest one-day point gain since 2003. The S &P 500 added 54 points to 1,330. And the Nasdaq Composite Index surged 91 points to 2,268. Advancing issues topped decliners by a commanding 8-to-1 margin. Volume on the NYSE was 5.2 billion shares. Nasdaq stock market volume was 2.3 billion.
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