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Dow Jumps 938 As Governments Pledge Bank Aid

By Peter Anderson 1 Comment - The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited October 13, 2008.

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Creative Commons License credit: Zesmerelda

The DOW had a better day posting a record gain of 938 points:


Wall Street has stormed back from last week’s devastating losses, sending the Dow Jones industrials soaring a nearly inconceivable 938 points after major governments’ plans to support the global banking system reassured distraught investors.

The Dow by far outstripped its previous record for a one-day point gain, 499, reached during the waning days of the dot-com boom in 2000.

The market was likely to have a rebound after eight days of precipitous losses that took the Dow down nearly 2,400 points, but no one expected this kind of advance. Still, back-and-forth trading is likely to continue as Wall Street still contends with a crippled financial system and a struggling economy. So some of Monday’s big gains may disappear when trading resumes Tuesday.

The Dow is up about 938 points at the 9,389 level. All the major indexes are up more than 11 percent.

Now, the question is, will this continue on an upward trend? Or will we continue to see a bit of a roller coaster?

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Last Edited: 13th October 2008 The content of biblemoneymatters.com is for general information purposes only and does not constitute professional advice. Visitors to biblemoneymatters.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.

This article is about: Economy, News

About Peter Anderson

Peter Anderson is a Christian, husband to his beautiful wife Maria, and father to his 2 children. He loves reading and writing about personal finance, and also enjoys a good board game every now and again. You can find out more about him on the about page. Don't forget to say hi on Pinterest, Twitter or Facebook!

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    Share Your Thoughts: Cancel reply

  1. Rob says

    Better day than I think anyone could’ve imagined, by far. But I wouldn’t feel too relieved just yet – remember, one incredible day doesn’t even begin to make up for last week’s devastation. I’d say tomorrow will be ugly for sure, with a whole lot of volatility in the near future.

    Robs last blog post..Stay the course

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