The Associated PressPublished: August 17, 2007
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NEW YORK: Stocks soared Friday, propelling the Dow Jones industrials up more than 180 points, after the Federal Reserve, acknowledging that the stock market's plunge posed a threat to the economy, slashed its discount rate by a half percentage point.
The central bank's step, which Wall Street was angling for, gave the market a boost after weeks of losses fueled by turmoil in the credit markets. The Fed has poured billions in additional liquidity into the banking system in recent days — on Friday, it added $6 billion — but the rate cut was its most dramatic effort yet to alleviate fears about tightening credit and calm the global financial markets.
The Associated PressPublished: August 17, 2007 Share Article NEW...
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$66.91 |
Change
0.420(0.63%) |
Mkt cap ! $12.97B | |||
| Open | High | Low | Value | Volume |
| $66.56 | $67.77 | $66.37 | $15.47M | 230.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3182 | $66.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $67.10 | 429 | 1 |
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