Monday, March 23, 2009

Your Money

Dow up 497 Points

New York--It was a good day on Wall Street in fact its been a great two weeks as stocks ralled today after investors acted on government's plan to help banks remove bad assets from their books.

That plan splits cash from the $700 billion financial rescue package and also gets help from the Federal Reserve, the FDIC and select private investors; that had a ripple effect through the market today.

The Dow Jones industrial average closed up nearly 500 points, or 6.8 percent, and the broader Standard & Poor's 500-stock index rose more than 7 percent. The Nasdaq rose more than 98 points or 6.7 percent.

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