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The broader U.S. equity markets staged a remarkable rally Tuesday afternoon following the Fed’s statement, as the Dow Jones Industrial Average (DJIA) surged higher to close up 429.92 points, or 4.0%, at 11,239.77.
The Dow initially fell by nearly 200 points after the release of the FOMC announcement, but quickly rebounded as very oversold conditions lead to short-covering and bargain hunting by traders.
With its 4.0% rally, the Dow posted its largest single-day gain in two years.
http://www.goldalert.com/2011/08/dow-surges-430-points-gold-ends-near-1740/
The Dow initially fell by nearly 200 points after the release of the FOMC announcement, but quickly rebounded as very oversold conditions lead to short-covering and bargain hunting by traders.
With its 4.0% rally, the Dow posted its largest single-day gain in two years.
http://www.goldalert.com/2011/08/dow-surges-430-points-gold-ends-near-1740/
