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Rollercoaster

U.S. Stocks Soar After EU Deal

Biggest one-day gain in a year.

cheats/2010/05/10/wall-street-surges-after-eu-deal/wall-street-11_vyvhfg

Richard Drew / AP Photo

The rollercoaster ride on Wall Street continues: buoyed by the $1 trillion European Union bailout, markets in Europe rallied and the Dow rose 405 points, or 3.9 percent, to close Monday at 10785. The euro, the monetary unit of 16 EU nations, rose against the dollar after last week's nosedive. Markets were battered last week due to worries that the EU would refuse to bail out Greece from its disastrous debt crisis, and worries that the euro would continue to decline without the bailout. The Dow also dropped nearly 1000 points on Thursday, but recovered most losses by day's end.

Read it at Associated Press

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