NEW YORK, Sept. 18 (UPI) -- U.S. stock markets bolted from bleak to buoyant Thursday after reports of a government intervention began to reach Wall Street.
The big boost came when investors learned of a proposal in Washington to form an agency that would accept failing credit bets, The Wall Street Journal reported.
The Dow Jones industrial average, down 4.8 percent from Monday and Wednesday's sessions, climbed 410.03 points by the close Thursday, up 3.86 percent at 11,019.69 points. The Standard and Poor's index jumped from midday losses to a gain of 50.12, up 4.33 percent, to 1,206.51. The Nasdaq composite index rose 4.78 percent, or 100.25 points, to 2,199.10.
On the New York Stock Exchange, where cheers went up at the closing bell, 2,395 stocks advanced and 797 declined on a volume of 2.445 billion shares traded.
The 10-year U.S. Treasury note fell 1 1/32 to yield 3.546 percent.
The dollar gained. The euro traded at $1.4349, compared with Wednesday's $1.4352, while the dollar traded at 105.37 yen from Wednesday's 104.74 yen.
In Tokyo, the Nikkei average dropped 260.49 points, down up 2.22 percent, to 11,489.30.
The FTSE index in London dropped 32.40 points to 4,880.00, off 0.66 percent.
