US stocks leap 2 to 3 per cent on eurozone bailout deal
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Washington - Major US stock indices rocketed 2 to 3 per cent Thursday as European leaders agreed to contain the eurozone debt crisis and expand their bailout fund.
Uncertainty over the agreement has played havoc with investors' confidence for weeks, causing extreme market volatility.
US investors followed their counterparts in Europe, where shares surged to a three-month high. Europe's Stoxx 600 banking index soared by more than 8 per cent.
The blue-chip Dow Jones Industrial Average gained 339.51 points, or 2.86 per cent, to 12,208.55. The broader Standard & Poor's 500 Index climbed 42.59 points or 3.43 per cent, to 1,284.59. The technology-heavy Nasdaq Composite Index rose 87.96 points or 3.32 per cent to 2,738.63.
The US dollar plunged against the euro to 70.49 euro cents from 71.96 euro cents on Wednesday. The dollar also lost against the Japanese currency to 75.99 from 76.25 yen.//DPA
