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Wall Street sees record single day surge

(Xinhua)
Updated: 2008-10-14 16:48

Wall Street saw its biggest single day surge on Monday after eight days of deep losses that took the Dow down nearly 2,400 points as governments of the West unfolded plans to support the global banking system.

The Dow Jones average rose 936.42, or 11.08 percent, to 9,387. 61. The Dow's previous record for a one-day point gain was 499.19, or 4.93 percent, on March 16, 2000.

The S&P 500 index advanced 104.13, or 11.58 percent, to 1,003. 35. It was the biggest point gain ever for the S&P 500 and was the biggest percentage gain for the index since March 15, 1933, when it surged 16.6 percent.

The Nasdaq rose 194.74, or 11.81 percent, to 1,844.25, its 10th biggest point gain; during the dotcom boom, the index soared as much as 324.83 in one day. Its percentage gain Monday was second to the 14.2 percent logged on January 3, 2001, the same day that the Nasdaq set its record for a one-day point gain.

About 3,030 stocks advanced on the New York Stock Exchange, while only about 160 declined. But the trading volume of 1.82 billion shares was lighter than it had been last week.