U.S. Federal Reserve feeds cash starved credit markets March 12, 2008
Posted by mylastresort in analysis.Tags: Asian, Central Banks, Crash, Credits Markets, Dow Jones Industrial, Intervention, Investments, Jakarta, Nasdaq, Nikkei 225 Index, S&P, Sensex, US Federal Reserve, USD
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The U.S. Federal Reserve and four other central banks on Tuesday teamed up to get hundreds of billions of dollars in fresh funds to cash-starved credit markets, allowing financial firms to use securities backed by home mortgages as collateral for central bank loans. Stocks surged, bonds fell and the long-suffering U.S. dollar soared in reaction to the moves, a sign financial markets saw the plan as a step in the right direction to ease a crisis that has threatened world economic growth. The effects on the stock markets are as follows:
- Dow Jones Industrials +3.55%
- S & P 500 Index +3.71%
- Nasdaq 100 +4.06%
The first markets to open after the US would be the East Asian Economies thus far in the day the Nikkei 225 Index is up 1.70%, Sensex up 2.15%, & the Jakarta IDX is at 1.95%…
Charts & Numbers 