Bank president’s vow cheers Wall Street
When European Central Bank president Mario Draghi vowed to “do whatever it takes” to keep the continent’s monetary union intact, stocks were off to races in the U.S. and Europe.
The Dow Jones industrial average on Thursday jumped 211.88 points, or 1.7 percent, following big gains in European markets. Benchmark stock indexes in Spain and Italy surged 6 percent and 4 percent in France. Draghi’s comments at an investor conference raised hopes that Europe’s central bank might intervene to bring down borrowing costs.