Dow Surges 220 to Pre-Lehman Levels

Investors cheer Fed's $600B plan
By Nick McMaster,  Newser Staff
Posted Nov 4, 2010 3:18 PM CDT
In this photograph taken Nov. 1, 2020, a trader, right, works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

(Newser) – The Dow Jones surged 220 points to close at 11,435—a few points beyond the levels it hit before the collapse of Lehman Brothers kicked off the international financial crisis in 2008. Investors were spurred to action by the Fed's $600 billion quantitative easing plan, which they are betting will drive down interest rates and spur business growth. “It was clear that the Fed wanted to exceed expectations,” one analyst tells MarketWatch.

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