Topics

Mortgages
Dow jumps 421 points, buoyed by Fed's interest rate stance
Dow jumps 421 points, buoyed by Fed's interest rate stance

Wall Street capped a worldwide rally in stocks as investors signaled their approval of the Federal Reserve's go-slow approach on raising its rock-bottom benchmark interest rate — even in the face of still-falling crude oil prices. The Dow Jones industrial average of blue-chip stocks rose 421.28 points Thursday, its biggest single-day jump in three years and the 13th largest ever. The 2.4% gain left the key index at 17,778.15 and wiped out days of triple-digit losses over the past week. Last Friday, the Dow closed with its worst week in three years as investors fretted over a seeming free-fall in oil prices, a weakening Russian economy and unease about when and how fast the Fed...

Loading