The New York Times
Wednesday, November 30, 2011 -- 4:12 PM EST
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Stock Market Indexes Up 4% at the Close
Stocks rallied in the United States on Wednesday after the Federal Reserve and other central banks took action to try to contain the debt crisis in the euro zone, with market indexes gaining more than 4 percent and the Dow Jones industrial average ending up 489 points.
As the exuberance set in, bond prices fell, as did swap rates, reflecting the decline in the cost of obtaining dollars. Commodity prices rallied and financial shares also benefitted as funding pressures appeared to ease.
But analysts noted that the move, which is meant to ensure that European banks have funding amid the sovereign debt crisis, addressed the symptoms and not the root causes.
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