The Dow Jones industrial average rebounded more than 500 points today as Wall Street snapped back from last week's devastating losses after major governments announced further steps to support the global banking system, including plans by the U.S. Treasury to buy stocks of some banks.
Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief.
Asian markets continued to slide on Tuesday, following one of the worst days in Wall Street's history. Indexes in Asia fell anywhere from two to five percent. (Sept. 30)
The US government launched several multibillion-dollar programs to guarantee holdings in money-market mutual funds and curb short-selling while developing a more sweeping plan to mop up toxic mortgage
The online magazine Slate is launching a spinoff site on financial news Monday, bringing tools for business executives and investors alongside its traditional emphasis on analytical articles.
