BREAKING NEWS: Stocks Mount Furious Late Rally, Close Higher

After spending most of the session deep in the red, the major market averages pushed higher late in the session to close up sharply. The rally may have been sparked in part by reports out of Europe that EU finance ministers are looking at ways of coordinating recapitalizations of European banks. The Dow closed up by 153 points, or 1.4%, at 10808 after plunging by more than 250 points earlier. The Nasdaq Composite surged 3%, and the S&P 500 rose by 2.2%.

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