The Dow Jones jumped nearly 500 points Monday after the Feds announced a plan to help banks remove bad assets from their books.
Major stock indicators surged more than 6 percent, including the Dow. Monday's 497-point Dow advance marked the fifth-biggest point gain in the history of the index.
The Treasury Department’s bad asset cleanup program will use money from the government’s $700 billion financial rescue fund and involve help from the Federal Reserve, the Federal Deposit Insurance Corp. and the participation of private investors.
Source: MSNBC.com, Dow Soars Nearly 500 Points on Banking Plan