Logo
BusinessBusiness

A stock-buying stampede raced through Wall Street yesterday, sparked by an apparently false rumor that European officials had reached a $2.7 trillion deal to bail out the euro debt crisis.

All three major indexes rallied, with the Standard & Poor’s 500 Index climbing 2 percent to its highest level since August while showing an 8.3 percent gain for the fourth quarter to date.

The rumor, reported by Britain’s Guardian newspaper, got shot down quickly by European Union officials as “totally wrong,” and that talks were still underway to reach an accord by next week.

The Dow Jones industrial average rose 1.6 percent to 11,577.05. The S&P added 2 percent to 1,225.38, erasing the prior day’s washout. The Nasdaq jumped 1.6 percent to 2,657.43 — pushing the tech-heavy index into the black for the year.

But the euphoria was short-lived.

After Apple missed projections in announcing its fiscal third-quarter results after the bell, US stock futures fell.

Comments
anonymous profile image
Powered by RoundtableBuilt on infrastructure designed for real-time media. Learn more at RTB.io.© Roundtable 2026. By using this site you agree to the Terms of Use and Privacy Policy