U.S. stocks surge most in over a year on EU rescue package

08:47, May 11, 2010      

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Traders work on the floor of the New York Stock Exchange in New York, the United States, May 10, 2010. The U.S. stocks rocketed higher on Monday, with all three major indexes surging the most in more than a year, after European leaders agreed to provide a huge rescue package of nearly 1 trillion dollars to aid the debt-laden countries, giving investors great relief.(Xinhua/Shen Hong)

The U.S. stocks rocketed higher on Monday, with all three major indexes surging the most in more than a year, after European leaders agreed to provide a huge rescue package of nearly 1 trillion dollars to aid the debt-laden countries, giving investors great relief.

The Dow Jones industrial average surged 454.74 points in 15 minutes of early trading and held on to most of the gains by the end of the session.

As of market close, the Dow rallied 404.71, or 3.90 percent, to 10,785.14. The Standard & Poor's 500 index soared 48.85, or 4.40 percent, to 1,159.73 and the Nasdaq jumped 109.03, or 4.81 percent, to 2,374.67.

The VIX, the benchmark for U.S. stock options, tumbled 30 percent to 28.7, the biggest drop in its two-decade history.


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(Editor:intern1)

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