Washington - The US government's decision to rescue banking giant Citigroup and the announcement of president-elect Barack Obama's economic team sent stocks soaring Monday.
The Dow Jones Industrial Average and the broader Standard and Poor's 500 Index posted the biggest two-day rally since 1987. The Dow jumped 396.97 points, or 4.93 per cent, to 8,443.39. The S&P 500 rose 51.78, or 6.47 per cent, to 851.81. And the Nasdaq Composite Index climbed 87.67, or 6.33 per cent, to 1,472.02.
Citigroup, which lost more than 60 per cent of its value last week, bounced back 52 per cent Monday after the government agreed to give it 20 billion dollars from the