Markets Rise As Banks' Response to Debt Crisis Reassures Investors

Summary

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Stocks advanced, driving the Dow Jones industrial average up the most since March 2009, after six central banks took action on Europe's debt crisis by making it cheaper for lenders to borrow in dollars.

Financial shares rallied 6.6 percent, the biggest gain in the Standard & Poor's 500 Index among 10 groups. JPMorgan Chase & Co. and Bank of America Corp. surged at least 7.3 percent. Caterpillar Inc. increased 8.1 percent and U.S. Steel Corp. climbed 15 percent after China lowered banks' reserve requirements, bolstering optimism about economic growth.

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Extract

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Markets Rise As Banks' Response to Debt Crisis Reassures Investors

The S&P 500 rose 4.3 percent to 1,246.96. The benchmark gauge rallied 7.6 percent in three days, the most sinc...

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