Stocks are soaring after major central banks acted together to support the global financial system.
The Dow Jones industrial average jumped more than 400 points in early trading Wednesday, and was up 389 half an hour after the opening bell.
Markets in Europe also surged. Germany's DAX index jumped 4.4 percent. The euro and commodities prices rose sharply. U.S. Treasury prices fell as demand weakened for ultra-safe assets.
The central banks' action takes pressure off the financial system, which has signaled in recent days that banks are losing faith in their trading partners.
The Dow Jones industrial average leaped 389 points, or 3.4 percent, to 11,945. The Standard & Poor's 500 index rose 39, or 3.3 percent, to 1,234. The Nasdaq composite index jumped 76, or 3 percent, to 2,591.
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